TRUST ESPORT Makes a $3M Investment in TOORNAMENT – The Esports Observer
French esports venture capital fund TRUST ESPORT invested €2.5M EUR ($3.03M USD) in esports tournament management software developer TOORNAMENT to financially support the company’s transition to becoming a B2B SaaS provider. While the Toornament platform has been established in 2015, the investment was made into the newly created TOORNAMENT SAS, which was created with the IP provided by French media and technology company Webedia Group.
TOORNAMENT was co-founded by Antione Frankart, Olivier Paradis, and Matthieu Dallon, who is also the founding partner of TRUST ESPORT. In 2016, Toornament’s original parent company Oxent was acquired by Webedia. Last year, Toornament recorded its biggest year so far as the platform hosted more than 26K tournaments engaging over 1.1M players. Some of the company’s clients include Riot Games, Ubisoft, Microsoft, Bethesda, PGL Esports, Freaks 4U, and UMG.
Furthermore, TOORNAMENT announced that Paradis will become the CEO/CTO of the company. He will be supported by engineering director Florent Denis and customer success director Geoffroy Piot.
Source: Read Full Article