Startup Generation Esports, Sponsored by Asus and Intel, Raises $10.8 Million

By Avi Ben Ezra Wednesday, April 14, 2021

Generation Esports, a gaming startup company that hosts esports events, closed a $10.8 million business funding round led by Altos Ventures.

A cheering esports team.

Supporting Community and School Esports Projects

Generation Esports, a Kansas City-based startup company that has developed a platform for staging esports events, will use the proceeds to support its community and student esports projects. These projects include the High School Esports League (HSEL), Middle School Esports League, as well as other associated tournaments and initiatives.

Generation Esports, which currently has 59 employees, has welcomed a number of new supporters this year. These supporters include Asus, Intel, and the Army National, as well as older partners Aim Lab, the National Junior College Athletic Association Esports (NJCAAE), Ubisoft, the Varsity Esports Foundation (VEF), Zaxby’s, and others.

"Esports in education continues to grow every year and is a key focus for us at Intel," said Marcus Kennedy, general manager of Intel's gaming and esports business unit.

“We are excited to be supporting students and schools as they build out their esports programs and look forward to the upcoming tournaments this year!"

The startup company is in partnerships with 3,400 schools, and while it was just a High School Esports League at first, the company has grown much beyond that. CEO of the esports business, Mason Mullenioux, said the fresh capital would help high school and middle school esports leagues improve their respective scholastic programs.

Over 140,000 student members across the entire United States (US) have been a part of these programs in the past nine years. Mullenioux said that his business is focused on being an entry point for young gamers to pursue a professional career in tech or gaming and help them adopt values such as fair play, respect, and inclusivity.

The startup business has noticed a significant market potential for the adoption of esports in North American schools, which accommodate about 7 million student-athletes. Esports in schools have a substantial growth potential to become an extracurricular activity that can bring remarkable benefits to students.

Generation Esports said that the implementation of HSEL Gaming Concepts’s curriculum saw a GPA average increase of 1.4 points and 95% or higher attendance in high schools. The curriculum was designed to teach students college-and-career-ready skills and social-emotional learning (SEL) through gaming and esports.

The esports franchise said that there is strong evidence pointing to the positive impact organized esports and gaming can have on students in both schools and their lives outside of the classroom. Intel is the last company to sign on as a sponsor with Generation Esports, and the two companies will organize the $50,000 "Intel Winners Circle Tournament" this summer.

After the COVID-19 pandemic outbreak, physical esports events came to a halt, but online events were able to continue. Many believe that esports leagues can have a positive impact on the culture of learning in schools.

Summary

Generation Esports secured $10.8 million in a business funding round led by Altos Ventures. The gaming startup company will use the capital to grow its community and invest in student esports initiatives.

About the Author


Headshot of Avi Ben Ezra

Avi Ben Ezra is the CTO and Co-founder of SnatchBot and SnatchApp (Snatch Group Limited). He leads the Group’s long-term technology vision and is responsible for running all facets of the tech business which includes being the architect of the platforms and UI interfaces.

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