This marks the largest private capital raising for an Australian and New Zealand esports organisation.
What are the dynamics in this funding raise?
The fundraise was launched early in 2021, attracting a savvy group of investors to the global multi-billion dollar industry, supported by Jason Peterson, Managing Director of Australia’s mid tier brokerage, CPS Capital.
“We closed out a combined $5.3 million funding round, led by capital market investors like Jason and Harry, who recognise the opportunities available within the sector.”
“This group brings both investment success and a wealth of experience taking early-stage businesses to the next level.”
“The funding provides the capital to diversify our operations into the content and lifestyle space, while continuing to attract the best operational talent to support our aggressive growth strategy,” said Mr Murphy.
ORDER getting new strategies onboard
Along with the capital raise, ORDER recruited Marc Edwards as its new CEO. “I am excited to join ORDER when the company and the industry is poised for significant growth.”
“I was drawn by the calibre of the Directors and Advisory Board, and impressed by the work that Gerard Murphy and his team have done to build a high performing and professional organisation leading the way in the local scene” he continued.
“I could have continued to pay my dues in traditional sport, but chose to apply the skills and the experience from those roles to ORDER,” said Edwards.
As a result of the COVID-19 pandemic, investment in gaming has skyrocketed with significant growth in online content engagement. A Nielsen report found 82% of global consumers played and watched video game content during the height of the pandemic.
Twitch, the world’s leading live streaming platform for gamers, saw its engagement more than double between January 2020 and March 2020 from 13 million to 31 million hours.