Ad tech startup VY Esports of Santa Monica announced it had raised an undisclosed seed round led by Raine Ventures, with participation from Courtside Ventures, Elysian Park Ventures and other investors.
In a press release, the company said it planned to develop a platform for buying digital advertisements associated with online e-sports broadcasts. It also aims to develop sponsored e-sports content. The firm said it intended to hire additional staff and expand business partnerships with the recent funding.
“E-sports remains a largely untapped market for brands due to fragmentation and lack of structure across the many events and titles in the industry,” Oleg Butenko, VY Esports’ chief executive, said in a statement. “Our goal is to bring non-endemic brands and media companies into e-sports by aggregating the inventory around existing events and by creating branded content linking separate events together.”
Blair Ford, a venture partner at Raine Ventures, will join the company’s board.
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