GAMING and eSports company Tier One Entertainment will establish its first content creation hub in the Philippines after securing funding from a recent Pre-series A round.
In a statement on Thursday, the company announced that Gobi Partners led the fund-raising program through its joint-venture fund with Core Capital and US record label conglomerate Warner Music Group Corp.
Singapore-based Octava, Japanese Internet firm KAYAC Inc. and Atlas Ventures—which is the company’s early-stage investor—have also infused funding to this round whose amount was not disclosed.
Besides setting up a content creation hub, Tier One Entertainment said it can also widen its presence in other Asian countries with the capital infusion. It is currently operating in the Philippines, Malaysia and Myanmar.
Proceeds are also earmarked to hire back-end teams that will further support the company’s talents. This, in addition to expanding eSports operations in Tier One’s eSports team Blacklist International.
With Tier One securing support from capital firms, founder and CEO Tryke Gutierrez said the company is “now poised for explosive growth.”
“The gaming industry is going through a golden age and this funding will help accelerate our growth by allowing us to replicate our success in other markets. In just a few years of operations, we’ve found a winning formula in eSports and gaming by developing a robust business model around top tier content creation and authentic distribution,” Gutierrez said.
Tier One Entertainment Cofounder Alodia Gosiengfiao, meanwhile, expressed her gratitude toward the investors, noting that the funding can bring the “company to the next level.”
“We have come a long way since our first business meeting at my home in 2017. With the growth of mobile gaming, streaming and eSports as an avenue for youth entertainment, we came up with the foresight to develop and house these talents by building our very own YG Entertainment of gaming,” said Gosiengfiao, who is also a famous cosplayer.
Tier One Entertainment is also backed up by Bitkraft Ventures and Atlas Ventures during its seeding round. The company’s clients include GroupM, Foodpanda, Unilever, Riot games, Samsung and Smart Communications, among others.
The company has 420 talents with a cumulative reach of 100.9 million on Facebook, 23.5 million on Youtube, 11.8 million on Instagram, and 9.1 million on Tiktok.