Esports sponsorship and audience analytics firm Cavea has raised EUR1m (~GBP902,361) from new and existing investors, including additional support from The Danish Growth Fund (Vaekstfonden).
According to the firm, the investment is expected to ‘consolidate and expand’ its product offering, grow its team, and allow Cavea to focus on commercialisation.
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Cavea’s AI-based sponsorship and advertising platform provides organisations, tournaments, brands, agencies, content creators and streamers with solutions to help manage, collect, track and value marketing content data for all available channels.
The company has already attracted interest from a range of esports entities, with the likes of FNATIC, Astralis, Ninjas In Pyjamas, Team Envy, PSG Talon and DreamHack Sports, among others, partnering with the firm.
Cavea Founder and CEO Mircea Eftemie commented: “The inability of proper data collection and expensive video analysis of large volumes of content, that is a natural outcome of gaming, leaves many esports organisations without any tangible solutions.
“Cavea addresses these obstacles by providing a solution capable of collecting and analysing thousands of video streaming hours while also analysing the type of games that are played.”
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According to the release, the company’s aim is to help ‘facilitate the growth of advertising and sponsorship revenues in esports’. The firm also cited that there is a ‘fundamental disconnect’ between the buyer and seller when it comes to sponsorships in esports.
Esports Insider says: Analytics platforms are becoming increasingly crucial in the esports industry, especially when more teams, tournament organisers and streamers are looking at different revenue opportunities, such as sponsorship. Cavea’s platform has already proven to be a popular solution among some of the biggest esports entities, moreover, its latest funding announcement highlights how investors are confident in the company’s trajectory.