Esports tournament platform Challengermode has announced a SEK 27m (~£1.93m) funding round that will be used to help expand the company’s offering outside of esports.
Challengermode is looking to develop its offerings for game developers and AAA publishers, which includes leveraging its in-game technology. In the announcement, the company highlighted its push into the AAA gaming sector by stating that it has recently signed a deal with an unnamed publisher.
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Founded in 2014, Challengermode is a Swedish company known for its competitive gaming platform. The platform allows users to host a variety of esports tournaments across multiple games using its automated tournament technology. Some of the games players can enter tournaments in include League of Legends, Rocket League, Chess, VALORANT, Counter-Strike 2 and more.
According to the company, Challengermode’s platform is behind over 400,000 competitions created per month, ranging from grassroots to tier one.
In 2024 alone, Challengermode acquired assets from rival tournament platform Stryda, launched an esports whitepaper with Shikenso and became the platform operator for the Madden NFL 25 Championship Series.
Challengermode CEO Robel Efrem, commented on the new investment: “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.”
Challengermode’s recent investment was led by Back in Black Capital with Ballista Capital and Seeker also involved in the funding round.
Another interesting note is that the esports tournament platform reported that its revenue growth for 2023/2024 is 58%. Exact figures have not been released, however, Challengermode noted an average revenue growth for the last three years at 54%
