Wisdom Gaming Group, a North American esports content and experiences company, has secured $3 million (~£2.3 million) in Series A funding.
The investment round, led by Minneapolis-based Excelsior Ventures Fund, will allow Wisdom Gaming Group to grow its portfolio of gaming and esports tournament communities.
Wisdom has grown significantly over the past year, during which it acquired Heroes of the Storm community HeroesHearth, as well as Rocket League organisations Alpine Esports and Gold Rush.
Mike Zweigbaum, CEO of Wisdom Gaming Group, expressed hope for the future in a release: “As more people and brands learn about esports and its potential as a revenue generator, we are energized by the opportunities this financing round will create for our clients and our team, as our digital content offerings leverage the most effective, engaging forms of media and non-traditional marketing to connect with Gen Z and millennial audiences.
“We will be deliberate in the gaming titles and content we focus on, continuing to stay true to our vision to build authentic communities and fandom among our unique properties. And we will help educate and chart the course for relevant brands and businesses for how to best connect with gamers.”
The company plans to resume live event planning and collaborations once COVID guidelines permit it to do so. Previous brand partnerships have included Jack Link’s, the Minnesota Twins, and Duke Cannon Supply Co. Wisdom also plans to continue supporting the development of Minnesota State High School League esports programs.
Michael Hoffman, Co-founder of Excelsior Ventures Fund, added: “We believe the esports sector is positioned to benefit from the convergence of content and commerce by leveraging the tremendous global participation of the key millennial and Gen Z demographic groups. As our second esports investment, we were attracted to the content focus of the Wisdom Gaming Group business model and the experienced and successful team.”
Esports Insider says: Wisdom Gaming Group is in a unique position to connect brands with gaming communities. Acquiring even more of these social communities will allow Wisdom to keep its fingers on the pulse of fan likes and dislikes, which translates to better marketing campaigns for everyone involved.