Players’ Lounge raises $10,5 million for its competitive tournament platform

Aiming for everyone to make money by playing games, Players’ Lounge has closed its Series A funding round led by Griffin Gaming Partners.
An art design from the Players' Lounge

Competitive gaming platform Players’ Lounge has announced that it has closed a $10.5 million Series A funding round for its tournament system platforms. The platform, which allows people to earn money by playing AAA video games, will enable people to bet on their performance instead of competing against each other.

Related: Ignite Tournaments raises $10M for mobile play-to-earn esports platform

The company announced the investment news with a LinkedIn post. Griffin Gaming Partners led the investment round with Comcast Ventures. Samsung Next, Vice Ventures, WndrCo, Sharp Alpha Partners, True Capital, NFL superstars Myles Garrett, Josh Norman, and Breanna Stewart participated in the investment round.

This is not the first investment the company has received. The company had previously received $3 million from names like Drake, Strauss Zelnick, Merissa Mayer, Comcast, Macro Ventures, Canaaan, RRE, and Courtside.

Austin Woolridge, the co-founder of Players’ Lounge, gave the following words in an interview with GamesBeat:

“Our vision has been to give gamers — all gamers, regardless of their skill level — the ability to earn and win money playing their favorite triple-A video games.”

Related: Sony acquires esports tournament platform

Players’ Lounge has three founders who set out to make money from the games, not just professional players but everyone. Founded by Zach Dixon, Austin Woolridge, and Dan Delaney, the company has been in service since 2014. In addition, according to the company’s LinkedIn page, it has 42 employees.

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