Gobi Partners, Warner Music Invest In Philippine Esports Entertainment Firm Tier One Entertainment

The Philippines-based esports and gaming startup Tier One Entertainment announced it has raised an undisclosed amount of financing in its pre-series A round led by Gobi Partners through its Gobi-Core Philippine Fund, a joint-venture fund with Core Capital.

 Warner Music Group, the US-based multinational entertainment and record label conglomerate, joined the round as part of its strategic investments in the region. Other investors include Octava, a Singapore-based family office, Kayac Inc., a Japan-based internet company, and Tier One Entertainment’s early-stage investor Atlas Ventures.

 Tier One Entertainment was founded in 2017 by esports veteran Tryke Gutierrez, cosplay and gamer Alodia Gosiengfiao, and entrepreneur Brian Lim. From starting out as a professional talent agency, the company is now a gaming and esports entertainment provider that claims to house 420 talents, with a cumulative reach of 100.9 million users on Facebook, 23.5 million users on YouTube, 11.8 million users on Instagram, and 9.1 million users on TikTok.

 The company has worked with brands such as Razer, Facebook Gaming, Ace Saatchi & Saatchi, Unilever, Foodpanda, Grab, and Uniqlo, among others.

 The fresh funds will be used by Tier One Entertainment to hire back-end teams that will further support its talents, expand its esports operations through its unit Blacklist International, and set up its first content creation hub in the Philippines.

 It also plans to expand its operations into other Asian countries. It is currently present in Malaysia, Myanmar, and the Philippines.

 With Covid-19 accelerating interest in gaming and esports, the company plans 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,” said Carlo Delantar, partner at Core Capital.

 The esports company was backed by Bitkraft Ventures and Atlas Ventures during its seeding round.

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