Rivalry Secures $22m Infusion Ahead of Direct Listing
Published on:
Jun/30/2021
Toronto-based esports betting operator and media company Rivalry has successfully raised $22m (~£15.9m) in funding led by Eight Capital and Cormark Securities.
In total, the company has raised $44m (~£31.8m) in the last 12 months.
The latest round values the company at $150 Million, according to Forbes.
It intends to go public on the Toronto Stock Exchange by October.
The operator is said to generate 85 percent of its traffic and revenue through esports – namely League of Legends, Counter-Strike, and Dota 2 – while the remaining 15 percent comes from sports betting, which Rivalry introduced last year, according to eSports Insider.
- Alistair Prescott, Gambling911.com
