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aXiomatic raises up to $21.5 million in latest fundraising round

Author : Paroma Bhattacharya | Published Date : 2019-04-26 

Esports & video game enabler aXiomatic, the holding company of the worldwide professional esports organization Team Liquid, has grabbed headlines for raising up to $21.5 million in funds from a number of unnamed investors, in its latest investment round.

Reliable sources with the knowledge of the development stated that the company had intended to secure not less than $25 million (£19.3m), but eventually could not meet its major funding goal. aXiomatic, however, did not comment on the aforementioned information.

The latest fundraising round for aXiomatic is pursuant to a strong year of funding in 2018, in the course of which the company had secured more than $50 million by means of two funding rounds held in April and October.

Sources further revealed that high profile investors such as Bruce Karsh, Golden State Warriors President, Ted Leonsis and Washington Capitals & Wizards Owner, among many others, participated in April’s Series B round that brought forth a total of $25 million. Whereas, the company subsequently doubled down on funding during its October Series C round, with another group of high profile investors including Carlyle Group’s Co-founder, David Rubenstein, and Curtis Polk, Managing Partner (Charlotte Hornets). The October round unveiled a funding of about $26 million.

Apparently, Forbes had ranked Team Liquid, the professional esports team of aXiomatic, third on its most profitable esports team list in October 2018, with an estimated value of $200 million. 

For those uninitiated, aXiomatic, in September 2016, had acquired a controlling stake in the Netherlands-based Team Liquid. Team Liquid, since the acquisition, has expanded to field teams in almost every big esports title – the most notable being the League of Legends.

Apparently, on the basis of the total amount of investment the company has secured over the past 12 months, investors consider aXiomatic and Team Liquid as a blue-chip organization in the esports segment.

Source Credits: https://esportsinsider.com/2019/04/axiomatic-secures-21-5m-in-latest-funding-round/

http://labusinessjournal.com/news/2019/apr/22/axiomatic-gaming-gains-21-million/

About Author

Paroma Bhattacharya

Paroma Bhattacharya

Paroma Bhattacharya, having completed her post-graduation in Journalism and Mass Communication, started her career in writing with resourceful and informative content development across diverse fields. Having dealt in myriad topics ranging from business to real estate, she now pens down articles for fractovia.org and other portals. She can be contacted at- [email protected] | https://twitter.com/paromab1

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