Berlin-based live esports data ticker Bayes Esports raised series A4 funding late last year to bring its total raised in 2022 to €9 million.
The funding round was led by Sydney-based investment manager PAC Capital, whose funds include an Esports, gaming, and tech innovation venture portfolio, PAC Private 1.
Bayes Esports said it would use the series A4 funds to develop Esports-related content whose data IP it had recently licensed. Recent partnership deals include a two-year agreement to stream match data from a global esports network called BLAST.
In addition, Bayes Esports will increase its headcount bringing in experts and talents from multiple industries, with further news on its expansion anticipated in the coming weeks.
PAC Private 1 is led by Australian esports businessman Clayton Larcombe, who says he sees competitive gaming as the sport of the next generation. The fund portfolio also includes a sports betting platform, Be Right, an e-sports franchise, Talon, and an esports gambling service called Oddin.gg.
"The future of sports is esports. Esports is growing at such an incredibly fast pace that businesses active in esports need to be fast, agile, and, most importantly, innovative.
"That is what I see in Bayes Esports. A truly innovative business with the power and the potential to lift the industry to new heights. Bayes is a significant investment in the fund and shows the commitment and belief of PAC to the Esports/gaming sector."
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