News Feed Item

VY Esports Raises Seed Round Funding Led By Raine Ventures To Launch Esports Content And Services Platform

SANTA MONICA, Calif., Oct. 12, 2017 /PRNewswire/ -- VY Esports, a content and services platform that bridges the gap between esports and brands, today announced it has raised a seed round led by Raine Ventures with participation from Courtside Ventures, Elysian Park Ventures and other notable investors in the esports space. VY Esports will use the financing to invest in talent acquisition and build its operations as well as partner relationships. As part of the fundraising, Blair Ford, Venture Partner of Raine Ventures, will join the company's Board of Directors.

"Esports remains a largely untapped market for brands due to fragmentation and lack of structure across the many events and titles in the industry," said Oleg Butenko, CEO and founder of VY Esports. "Our goal is to bring non-endemic brands and media companies into esports by aggregating the inventory around existing events and by creating branded content linking separate events together. Given their respective experience and reach in the worlds of sports, media and technology, Raine, Courtside and Elysian Park are important partners and we are excited to work with them and leverage their expertise to grow the business."

"The VY Esports platform will create new opportunities for marketers to tap into the highly engaged and growing global esports audience at much greater scale, while also helping event organizers better monetize their tournaments," said Blair Ford, Venture Partner of Raine Ventures. "Oleg has an impressive history of creating and leading businesses, including in the esports space, and we are excited to work with him to help bring this new platform to marketers around the world."

VY Esports will enable advertisers to reach esports fans and tell a continuous story across multiple distribution formats and game titles by bringing together the ad inventory across many of the highly-viewed esports events into one platform. The company will work with advertisers to develop and distribute branded content for popular global esports events and tournaments. This content will include narrative-driven video around the players, behind-the-scenes content, game highlights, in-depth analysis, recap shows, news, and more.

In addition to providing a content and services platform, VY will develop its own multi-game and industry-wide live events and tournaments, including college tournaments and showcase events. VY will create original events and experiences by partnering with existing players in the event organization space as opposed to producing another Major or Minor for a specific game title. These VY live esports events will offer new broadcast and sponsorship opportunities to brands and media companies.

Market intelligence provider, New Zoo, predicts brand investment in esports will double by 2020, pushing the total market to $1.5 billion as the global esports audience grows to almost 600 million people. In addition to this strong growth, more than 60 percent of esports viewers are under age 25 and half have a household income of more than $76,000 annually, making them a valuable audience to advertisers.

VY Esports is led by CEO and founder Oleg Butenko, a digital entrepreneur who has founded businesses focused on music, telecom, and esports. Butenko served as the CEO of Megalabs, the OTT services platform for the leading telecommunications company Megafon, and helped grow the company from the first few employees to almost 500 people and hundreds of millions of dollars in revenue. In 2014 Butenko launched United Music Agency, Russia's leading music streaming content aggregator, which represents all music on internet market leader Mail.ru. He also co-founded ESForce, a global esports holding company.

About VY Esports
VY Esports is a content and services platform focused on bridging the world of esports, traditional brands, and media companies. Based in Santa Monica, California, the company is comprised of a global team of esports aficionados with a strong track record and deep connections in the media and gaming industries. For more information, visit http://www.vyesports.com

About The Raine Group
The Raine Group is a global merchant bank focused exclusively on technology, media, and telecommunications. The firm has offices in New York, San Francisco, Los Angeles, London, Shanghai, and Mumbai. With a global reach, Raine focuses on investment and advisory opportunities where its deep industry experience and unique network of strategic relationships can create value for portfolio companies and clients. For more information, visit www.raine.com.

About Courtside Ventures
Courtside Ventures is an early-stage venture capital fund, investing across media and gaming, with a particular strategic focus on sports. Backed by investor Dan Gilbert, founder and chairman of Rock Ventures, Quicken Loans and majority owner of the NBA's Cleveland Cavaliers; WPP, the world's leading advertising firm; and Bruin Sports Capital, Courtside Ventures invests in companies across the US and internationally. For more information, visit www.CourtsideVC.com.

About Elysian Park Ventures
Elysian Park is a private investment firm created by the ownership group of the Los Angeles Dodgers to invest and partner with exceptional entrepreneurs operating at the intersection of sports, technology, and entertainment. Based in Los Angeles and New York, Elysian Park invests across stages from seed to growth, and also provides entrepreneurs with strategic, operational, and management resources through the Los Angeles Dodgers Sports Accelerator with R/GA.

View original content:http://www.prnewswire.com/news-releases/vy-esports-raises-seed-round-funding-led-by-raine-ventures-to-launch-esports-content-and-services-platform-300535757.html

SOURCE Raine Ventures

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
"We started a Master of Science in business analytics - that's the hot topic. We serve the business community around San Francisco so we educate the working professionals and this is where they all want to be," explained Judy Lee, Associate Professor and Department Chair at Golden Gate University, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DXWorldEXPO LLC announced today that Dez Blanchfield joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, m...
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve fu...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...