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Tier One Entertainment raises Pre-Series A financing to expand presence across Asia

George Miller

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Tier One Entertainment raises Pre-Series A financing to expand presence across Asia
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Tier One Entertainment, the gaming and esports entertainment pioneer and leader in Southeast Asia, has raised an undisclosed amount of financing on its recent Pre-series A round.

The Pre-series A round was led by Gobi Partners through its Gobi-Core Philippine Fund, a joint-venture fund with Core Capital. In addition, Warner Music Group joins the round as part of their strategic investments in the region. Warner Music Group Corp. is an American multinational entertainment and record label conglomerate that is considered is one of the “big three” recording companies worldwide. Meanwhile, Gobi Partners is one of the longest-standing venture capital firms with a Pan-Asian presence across North Asia, South Asia, and ASEAN, with over US$1.2 billion in assets under management (AUM).

Octava, a Singapore-based family office, KAYAC Inc, a Japan-based internet company, and Tier One Entertainment’s early stage investor, Atlas Ventures have contributed to this round.

Started as a professional talent agency, Singapore-registered Tier One Entertainment is now the largest gaming and esports entertainment provider in Southeast Asia, housing 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.

The infusion of finance will power Tier One Entertainment, currently operational in Malaysia, Myanmar and the Philippines, to set up local operations in other Asian countries.

The proceeds of the financing will be specifically utilized to hire back-end teams that will further support their talents, expand their esports operations in Blacklist International, Tier One’s Esports team, and set-up their first content creation hub in the Philippines.

“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. We firmly believe that we are an Asian behemoth in the making and now that we have more support from established venture capital firms around the globe, Tier One Entertainment is now poised for explosive growth,” Tryke Gutierrez, Founder, and CEO, Tier One Entertainment, said.

Tier One Entertainment was founded in 2017 by esports veteran Tryke Gutierrez, cosplay and gaming superstar Alodia Gosiengfiao and seasoned entrepreneur Brian Lim. Together, they sought to revolutionize Southeast Asia’s esports landscape, bringing their expertise in creating winning formulas to turn their talents into gaming superstars.

“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. We are truly grateful for our new backers for believing in our vision that we can take this company to the next level,” Alodia Gosiengfiao, Co-founder, Tier One Entertainment, said

The company has locked in top talents in the Philippines, Myanmar, and Malaysia to date. As COVID-19 accelerated gaming and esports’ interest, they plan to take advantage of this growth by acquiring more up-and-coming talents in other markets.

“Tier One showed their resilience and agility through their meteoric rise in the industry. Not only did the team understand the complex space of esports and entertainment, Tier One continues to thrive by expanding its footprint across the region. We’re excited to have Tier One join our portfolio of startups under the Gobi-Core Philippine Fund”, Carlo Delantar, Partner, Core Capital, noted.

The esports company is also backed up by Bitkraft Ventures and Atlas Ventures during its seeding round and has clients such as Foodpanda, Unilever, Riot games, Samsung, Smart communications among others under its business portfolio. The company positions itself as capital efficient and generating multimillion in annual revenues.

Asia

Casinos in Goa to Remain Closed Until May 10

Niji Narayan

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Casinos in Goa to Remain Closed Until May 10
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Goa’s state government has extended the lockdown measures for another seven days, from May 3 to 10, as part of efforts to halt a massive outbreak of COVID-19 currently sweeping the country.

The extended lockdown follows an initial four-day lockdown announced last week which saw all non-essential services including casinos, hotels, bars, restaurants and tourism facilities ordered closed.

Under revised conditions in place for the next seven days, those same businesses must remain closed while shops selling food must shorten their hours of operation from 15 hours a day to 12.

An order issued by the North Goa District Magistrate said, “A surge in COVID-19 cases is being witnessed in Goa and other parts of the country, and the situation might further aggravate due to public gatherings and active interactions among high positivity rate.”

Before going into lockdown last week, the Goa government had imposed a night curfew from 10 pm to 6 am with casinos, restaurants, bars and cinemas allowed to operate at 50% capacity during opening hours.

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Asia

NSUSLAB Korea Awarded ISO 27001 For Online Gaming Platform

George Miller

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NSUSLAB Korea Receives ISO 27001 Certification For Online Gaming Software Press Release
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Software used by online poker giant GGPoker certified as securely managing information assets

NSUSLAB Korea, a leading developer of online gaming software, announces today that it has received an International Organization for Standardization (ISO) 27001 certification for its online gaming platform.

ISO 27001 is an international standard recognized globally for managing risks to the security of information held by an organization, and provides a set of standardized requirements for an Information Security Management System (ISMS).

NSUSLAB Korea’s software powers the world-renowned GGPoker poker room, which hosts hundreds of thousands of players and games each week. GGPoker operates in a number of regulated markets, and holds United Kingdom Gambling Commission and Isle of Man Gambling Supervision Commission licenses amongst others.

“NSUSLAB is proud to have secured this ISO 27001 certification, as we have always placed information security at the forefront of our efforts,” said Daniel Lim, CEO of NSUSLAB Korea. “We hope that the news further assures GGPoker, its players, partners and regulators of our commitment to maintaining the security of their information.”

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Asia

Kwalee projects £20 million investment in India following success of Bangalore studio

George Miller

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Kwalee projects £20 million investment in India following success of Bangalore studio
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UK-based game developer and publisher continuing to build in Bangalore as India becomes Kwalee’s biggest country by downloads with around 5 million monthly active players

Kwalee, a renowned developer and publisher of video games for all platforms, has projected a $30 million investment in its India operations over the next five years.

The Leamington Spa-headquartered firm announced its intention to make Bangalore the home of its first overseas studio back in May 2020, initially building the team on a remote basis due to the ongoing COVID-19 pandemic.

With the physical Bangalore studio now established in one of the city’s vibrant technology parks, Kwalee Bangalore already employs around 50 talented staff and is planning significant expansion with around 80 current vacancies in India across all disciplines and 25 new vacancies in the UK.

Team members in India have already contributed to the development of games such as Blade Forge 3D (20 million+ downloads), Teacher Simulator (25 million+) and Let’s Be Cops 3D (21 million+). Kwalee Bangalore team members have also been involved in updating classic titles like Draw It (90 million+ downloads) and have played a prominent role in many other exciting games that are close to launching worldwide.

But as well as India having an increasingly significant part to play in the development of Kwalee’s titles, the publisher currently sees more downloads of its mobile games in India than in any other country. With well over 600 million total downloads worldwide, including downloads in every country on earth, that amounts to a massive player base in India.

Kwalee is headquartered in Leamington Spa and was founded by games industry legend David Darling CBE, who previously co-founded Codemasters in 1986 and paved the way for the midlands gaming hub now known as ‘Silicon Spa’. With Kwalee having made its name with ‘hypercasual’ mobile games, which are known for their mass appeal and accessibility, the firm now also publishes games on PC and console platforms.

UK Prime Minister Boris Johnson said, “I’m delighted that Kwalee is expanding into India to make the most of the opportunities for UK businesses in one of the world’s biggest economies. Our exporters are brilliant ambassadors for Britain and I hope today’s announcement is just the start of what you can do for India and the UK.”

“It’s incredible to see the brilliant team we have managed to build in Bangalore, in such a short space of time,” said David Darling CBE, CEO and founder of Kwalee. “The vision from the start was for our teams in the UK and India to collaborate as though they were one studio, and even under difficult circumstances we’ve seen the fruits of that with great games and a fundamental contribution from our colleagues in Bangalore.”

“Our projected investment in Kwalee Bangalore over the next five years shows our commitment to continue building this amazing team and to maintain our rapid growth as we build a global team to make global hits. We’re so proud of what’s already been achieved in a disrupted year and we can’t wait to build on this platform.”

Kwalee’s most recent release, Makeover Studio 3D, has surpassed 2.5 million downloads in a matter of weeks and was recently a top-3 game on the App Store in the USA, UK and Canada.

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