News

BLAST raises €12.5M Euros in funding from leading technology players and VCs

BLAST

20. maj, 2020

Funding round closed as BLAST continues to operate at full steam throughout the current climate.

Copenhagen: BLAST, the global esports media network, has today announced the closing of an investment round of €12.5M Euros.

Johan Gedda, global technology entrepreneur and co-founder of Rocket Software, and Vækstfonden, a financing and investment vehicle with funds from the Danish State and the European Investment Bank, led the round. The round was completed with further investment from existing investors leading European VC funds Creandum, Heartcore and Maki.

With offices in Copenhagen and London, BLAST creates world-class esports entertainment through intimate broadcast studio shows, arena events, and online content. BLAST products are broadcast across major global TV networks, leading digital platforms and through BLASTs own broadcast platform. This platform is built around leading direct to consumer technologies and infrastructure.

the opportunity to combine and create a deeper technology stack that will evolve the future of esports is one of the reasons I am pleased to partner with BLAST"

- Johan Gedda, co-founder of Rocket Software

Johan Gedda said "the opportunity to combine and create a deeper technology stack that will evolve the future of esports is one of the reasons I am pleased to partner with BLAST. I am impressed by their plans and look forward to leveraging my experience in the technology space to help grow this exciting and fast moving business."

In 2019, BLAST delivered 7 events across 5 continents with 1 billion minutes of broadcast in 19 different languages. In 2020, BLAST will deliver all of its planned events and has increased its output by XYZ from March 2020 despite the current climate.

Erik Balck Sørensen of Vækstfonden’s department of direct investments: “We have watched the leadership position taken by BLAST across the esports industry in Europe and beyond, and we are proud to support a European growth company as it moves to its next stage.’

The global esports market is on target to grow to 80 billion USD by the end of 2020. The BLAST business model is centred on targeting the broadest esports and entertainment audience. The model is built around long term partnerships with the best teams, broadcasters, commercial partners and technology leaders.

During Covid-19, BLAST has increased its output and introduced multiple new lines of tournaments, content series and commercial partnerships. BLAST has a full calendar from 30th April through to 21st June, bringing over 277 hours of world-class esports to fans around the world.

Drakestar supported BLAST on the deal.

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