Challengermode Raises 27 Million SEK to Expand Game Developer Services
New Funding to Expand In-Game Technologies for Game Developers, and Solidify Industry Leadership
Stockholm, Sweden – [2024-10-29] – Challengermode, the leading platform for competitive gaming, today announced the successful completion of a SEK 27 million funding round led by Back in Black Capital, with support from both existing investors and new investors Ballista Capital and Seeker. This funding round marks a significant achievement given the current financial climate in esports, underscoring Challengermode’s resilience and strategic direction.
The newly raised capital will be used to expand Challengermode’s offerings beyond just esports to include a broader set of game-technology products. The company aims to further develop its offerings for game developers and AAA publishers.
Over the years, Challengermode has positioned itself as the go-to esports platform by forming strategic partnerships with major game publishers like EA Games, Ubisoft, and Tencent, as well as other key stakeholders in the industry. As a result, the platform currently supports over 120 games.
With tens of millions of users and more than 80,000 tournament organizers, Challengermode is the engine behind more than 400,000 competitions created per month, ranging from community-run tournaments to global Tier 1 pro-level events, such as the DOTA2 and CS2 Majors.
Challengermode CEO Robel Efrem stated, “Securing this funding is a testament to the quality of our platform, strategic vision and the trajectory of the company. We’re excited to continue developing our game-focused technologies to better serve game developers and the broader competitive gaming community.”
Having recently signed with an as-of-yet undisclosed AAA publisher that will leverage its in-game technology, Challengermode plans to expand its unique offering to more publishers. This addition further contributes to its revenue growth, which has averaged 54% over the past 3 years.
Contact Information
For media inquiries, please contact:
Robel Efrem, CEO
robel@challengermode.com
About Challengermode
Challengermode is a Swedish technology company founded in 2014 that offers the world’s most accessible competitive gaming platform, designed to solve the challenges of creating and playing in gaming competitions at scale. The platform’s automated tournament technology is and has been utilized by several of the largest publishers and game developers globally, including EA Games, Riot Games, Epic Games, Ubisoft, Krafton, Amazon, and Tencent, to grow the competitive gaming scene for their titles.
Challengermode at a glance:
- Tournament organizers: 80K+
- Competitions: 400K+ per month
- Revenue growth over the past 3 years:
- 2021/2022: 42%
- 2022/2023: 62%
- 2023/2024: 58%
- Games on the platform: 123
Some notable investors on our cap table include the global investment arm of Alibaba Group, Back in Black Capital, GP Bullhound, Telia Ventures, Unknown AB, and more.