Australia-based media network Gamurs has closed a Series A funding round and secured $12 million. Elysian Park Ventures and Cerro Capital led the round with participation from Powerhouse Capital, Artesian, and Aura Ventures.
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Founded in 2014, Gamurs is already one of the largest media networks in the industry, with 55 million monthly active users across its publications ranging from esports coverage to gaming and entertainment. According to Comscore, the media company is currently ranked top five for US audience reach in the gaming news category.
Riad Chikhani, Founder and CEO of Gamurs said:
“We are incredibly proud to have the backing of Elysian Park Ventures, Cerro Capital, and all of our incredible investors. The round not only presents a fresh injection of growth capital, but offers the opportunity to collaborate with strategically aligned investors who will actively add value in our journey to redefine gaming and entertainment media.”
Nikhil Bahel, Managing Partner of Elysian Park Ventures said:
“Our mission at Elysian Park Ventures is to invest in companies that are going to have a profound impact on the sports world. GAMURS has quickly snuck up on the emerging esports market with a sustainable business model, and a remarkably focused and passionate founder in Riad. We’re excited to support the company as it continues to scale and present more opportunities for both consumers and advertisers.”
Ashish Patel, Cerro Capital Co-Funder and Managing Partner commented:
“We’ve been consistently impressed by CEO Riad Chikhani’s discipline and leadership in operating the organization profitably, a rare feat in today’s digital media environment, all while still being under-monetized from an advertising perspective.”
Gamurs, already a profitable company, plans to use this funding to accelerate strategic acquisitions and expand into other related markets. The company previously expanded its portfolio by acquiring six digital esports and gaming news publications and increasing the number of its publications to 16.
