[Funding alert] Esports platform MPL enters unicorn club with Series E financing; valued at $2.3B
Esports unicorn MPL will use the funds to finance its global expansion, invest in its home-grown technology, and drive continued growth in the Indian market.
Esports platformWednesday turned unicorn, post raising its Series E funding round led by Legatum Capital, at a pre-money valuation of $2.3 billion.
Existing investors, including Sequoia, SIG, RTP Global, Go-Ventures, Moore Strategic Ventures, Play Ventures, Base Partners, Telstra Ventures, and Founders Circle Capital, also participated in the investment round.
Recently, the esports and skill gaming platform had begun operations in the US, and completed two years of operations in Indonesia, making it the only mobile gaming platform from India with a growing international presence. At present, MPL has over 85 million registered users globally.
“This investment is a recognition of the potential of the Indian gaming and esports industry and an endorsement of the capability of MPL to expand globally. MPL’s proven success in India and Indonesia encouraged us to launch in the US, one of the world’s largest gaming markets. Our US operations are off to a promising start, and we’re thus fulfilling our resolve to make our platform the esports and gaming hub of the world,” said Sai Srinivas, Co-founder and CEO, MPL.
MPL will use the fresh capital to finance its global expansion, invest in its home-grown technology, and drive continued growth in the Indian market.
Legatum CEO and new MPL board member, Mark Stoleson, added,
“Legatum is delighted to have led this latest round of funding for MPL as it continues its incredible growth trajectory and becomes the world’s leading esports and skill gaming platform. It is an honour to support Sai, Shubh, and the outstanding team at MPL, and to join the other world-class investors in building a company that provides a top-class gaming experience for users, unmatched distribution for developers, and a commitment to building a company with the best global talent and a winning culture."
Earlier this year, MPL acquired esports firm Gaming Monk to develop a full suite of esports and live streaming capabilities.
In early September, the platform announced a partnership with the Play Magnus Group, founded by Chess superstar Magnus Carlsen. With this partnership, MPL will host the official Indian Circuit for players to qualify for the Meltwater Champion Chess Tour. This claims to be the first-ever regional expansion for the Champion Chess Tour.
Headquartered in Bengaluru, MPL also has offices in Pune, New Delhi, Jakarta, Singapore, and New York.
Edited by Suman Singh