eFuse, a web and mobile application that serves as the professional hub for esports and video games, announced a $1.4 million seed round in preparation for the platform’s launch on December 10, 2019. As one of the fastest growing forms of entertainment across the globe, esports draw international competitors to tournaments with prize pools of up to $30 million and hundreds of millions of spectators.
“eFuse is the answer for every gap in the esports industry,” eFuse CEO Matt Benson said. “Since I founded eFuse in November 2018, our team has made strides in securing exclusive partnerships and creating the best platform for our community, so we’re thrilled to provide life-changing opportunities to gamers around the world starting in December.”
eFuse has secured funding from Ohio Innovation Fund (OIF), a venture capital firm with a track record of building high-growth startups in the Midwest. Benson honed his passion for entrepreneurship as an entrepreneur-in-residence with OIF in 2018.
“The esports industry is experiencing hyper growth — with the market size already at $1.2 billion, it’s expected that over $150 billion will be spent on video games and esports in 2019,” OIF Managing Director and eFuse Board Member Bill Baumel said. “The industry’s colossal reach is illustrated by the 2018 League of Legends World Championship Final, which had over 100 million unique viewers. That’s more than 2018’s Super Bowl.”
Professional athletes such as NFL player Braxton Miller and social media influencers such as chocoTaco, who has more than 1 million subscribers on YouTube, have given eFuse their seals of approval. Both will be serving as brand ambassadors to eFuse as the company prepares for launch.
eFuse has also built a seasoned team of employees and advisors to lead the company. Chief Technology Officer Patrick Shuff worked in engineering at both Facebook and Netflix. Anthony Muraco, an advisor to eFuse, was the director of gaming operations at the Cleveland Cavaliers and currently serves as the director of business operations for two prominent esports teams, SeattleCOD and Vancouver Titans.
To build upon this foundation, the team works closely with Moby Dick Unlimited in a shared office space. Moby Dick is the marketing firm behind several ultra-popular influencers who have three billion cumulative views, more than one hundred million subscribers across their social channels, and connections to the top esports professionals and organizations across the country.
