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BLAST raises €12.5M in funding round

Danish tournament organiser BLAST has completed a funding round, raising a total of €12.5 million (£11.1 million).

The round was led by Johan Gedda, CEO and Co-founder of Rocket Software, and Danish investment fund Vækstfonden.

BLAST Funding Round
Photo credit: BLAST

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European venture capital firms Creandum, Heartcore, and Maki – existing investors in the company – rounded out the funding with further investment.

Gedda spoke on the decision to invest in a release: “The opportunity to combine and create a deeper technology stack that will evolve the future of esports is one of the reasons I am pleased to partner with BLAST. I am impressed by their plans and look forward to leveraging my experience in the technology space to help grow this exciting and fast-moving business.”

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The circumstances created by the ongoing COVID-19 pandemic haven’t stopped BLAST from continuing to serve the Counter-Strike: Global Offensive community, devising online tournament BLAST Rising in April. The company announced its entry into Dota 2 earlier this month through BLAST Bounty Hunt, an online tournament with the involvement of multiple prominent teams.

Erik Balck Sørensen, Partner of Vækstfonden, also commented: “We have watched the leadership position taken by BLAST across the esports industry in Europe and beyond, and we are proud to support a European growth company as it moves to its next stage.”

Esports Insider says: BLAST has seemingly gone from strength to strength following its parting with Astralis Group, where both companies were housed under RFRSH Entertainment. It has done a great job in creating new events and original content programming during tough circumstances, so we’re intrigued to see what’s next, especially with significant backing such as this.

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