eSports Hero, the New York-based start-up founded in 2015, offers an online platform where players can battle each other for real money which they pitch-in themselves.
The company has recently successfully received fresh capital for expanding its online service in the ever-growing competitive gaming environment, which has seen a massive boom alongside its companion industry, real money eSports betting.
— eSports Hero (@eSportHero) March 23, 2016
More cash equals a bigger, more feature-laden platform
The fundraising was led by the young Australian investment group Esports Mogul. With the newly raised money, eSports Hero plans to broaden its presence in the growing industry of eSports, which, according to market research company SuperData, has reached over 188 million in viewership and has a market value of $748 million.
“We see over a third of eSports fans also competing in an average of four tournaments every six months, and online platforms offer an easy way to participate without having to compete in person,” said Joost van Dreunen, CEO of SuperData Research.
The company brought in Andrew Schneider, a veteran of the space, who will act as a board director and founder. Schneider previously worked at Sony and Live Gamer, a company specializing in getting players to spend money on digital goods.
“This investment round and the addition of Andrew to the Board will help accelerate our mission in several ways,” said Chris Gonsalves, CFO of eSports Hero. “Andrew’s deep industry experience and monetization expertise will assist us greatly to add compelling new features to the platform, expand our partnership capabilities, and grow the ESH player base.”
Platform contains a crowdfunding aspect
Besides getting involved by playing, members can also watch ESH tournaments globally around the clock and participate by crowdfunding prize pools in support of their favorite players.
Said James Heldridge, co-founder and CEO of eSports Hero:
“ESH is capturing the enthusiasm around competitive gaming by offering players of all skill levels an outlet to show off their abilities to the millions of eSports fans around the world.
ESH has become a place for up-and-coming players who want to be recognized and a favorite destination for professional players such as Jab, Phonetap and KitKatz who are looking to expand their tournament play.”
Winnings can be redeemed for various items
The company also offers the ESH Shop, an online shop where players can spend their earnings on a variety of gaming goods instead of withdrawing their funds directly. Items such as keyboards, mice, headsets, digital items, and much more can be found in the shop with new items being added every month.
According to Esports Hero, the service is safe and the company is putting a lot of effort into ensuring that everything on the platform stays fair and legal, preventing nefarious things like cheating and even money laundering. Making everyone feel comfortable when using the site and throwing a few bucks down on some matches will result in a good experience, which might lead to players starting to invite in their friends – and this is always good for business.
“eSports is the most exciting thing to happen to games, entertainment, and media,” said Andrew Schneider, director of eSports Hero. “The ESH team are core gamers and have a real passion for the sport. Together we are well positioned to create the most compelling and authentic experience for players worldwide.”