View source for News/Challengermode Secures $2.5m

{{News
|seo_title=Challengermode Secures $2.5m
|seo_keywords=Challengermode
|image=Challengerd.jpg
|tags=Challengermode
|date=2024-10-31T16:17:47.000Z
|sources={{NewsSource
|source=News.Cision
|url=https://news.cision.com/se/challengermode/r/challengermode-raises-27-million-sek-to-expand-game-developer-services,c4011492
|article=News/Challengermode Secures $2.5m
}}
|author=Andura
|category=Business
|content=Challengermode has completed a SEK 27 million funding round led by Back in Black Capital, with participation from existing investors and new investors Ballista Capital and Seeker. This funding will allow Challengermode to expand its offerings beyond esports to include a wider range of game-technology products aimed at game developers and AAA publishers.

According to release, the platform has millions of users and over 80,000 tournament organizers, facilitating more than 400,000 competitions each month, including community tournaments and global Tier 1 events like the DOTA2 and CS2 Majors.

'''More:'''[[News/Neon Koi and Firewalk Studios Shut Down|Neon Koi and Firewalk Studios Shut Down]]

CEO Robel Efrem stated, '''“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 recently signed with an undisclosed AAA publisher to leverage its in-game technology and plans to expand its offerings to more publishers, contributing to an average revenue growth of 54% over the past three years.
}}