Singapore-based e-sports startup Reverse raised $12 million in a Series A fund led by Falcon Capital. The company says it’s the largest Series A raised by an e-sports organization in Southeast Asia, based on data from PitchBook and other third-party platforms. The round will be used to expand in Indonesia and the Philippines, attract more e-sports teams, and scale up Ampverse’s monetization unit.
Founded in 2019, Ampverse’s portfolio includes Thai e-sports brands Bacon and MiTH; Vietnam’s SBTC Esports team and India’s 7Sea team. Its play-for-money business allows players to earn rewards by playing games like Axie Infinity, Townstar, and Spider Tanks, and getting training from professional esports players. Ampverse has worked with clients such as Disney, Samsung, McDonald’s, Nestlé, Lazada and Porsche.
Ampverse CEO Ferdinand Gutierrez said the company’s revenue has grown 125% in the past 12 months, during which the company has expanded into Vietnam and India.
Gutierrez told TechCrunch that Ampverse was founded because their team saw “a great opportunity to create a company whose IP and products for gaming fans lie at the intersection of games and popular culture.” , be it e-sports teams, merchandise, or other fan experiences.” The company’s leadership team has previously held roles at media, entertainment and gaming companies such as Havas, Twitch, and Universal Music.
He added that expanding to Indonesia and the Philippines would “complete our SEA footprint,” which already includes Singapore, Thailand and Vietnam.
“We feel these two markets are strategically important markets in Southeast Asia, based on the dynamic esports markets, as well as the popularity of games like Mobile Legends in the region. those markets complement the existing titles our team competes in,” said Gutierrez, noting that Indonesia is the largest gaming market in Southeast Asia. Meanwhile in the Philippines, there are more than 43 million active gamers, a number that has increased 12.9% year-on-year since 2017 thanks to the increasing accessibility of smartphones.
Other participants in this round include returning investors Vulpes and Gandel Invest, along with individuals such as Rob Gilby, a former Disney Southeast Asia executive; GoGame CEO David Ng; Cultural Group CEO Michael Patent; and Marcus John, former vice president of the Lagadere and Wolfpack Foundation.
In a prepared statement, Falcon CEO Wil Rondini said, “The growth the Ampverse team has delivered in such a short time has been monumental. With their continued esports M&A strategy and vision to play for money, we know the future is bright for Ampverse. “