What the LegionFarm Startup Business Does
Think of LegionFarm as a training ground company for budding gamers. The business pairs those who like to play video games but require more help with the experts and professional gamers that can teach them. The result is better gamers that are equipped to take part in games with their friends as well as high-level contests.
Games for Which the Startup Offers Training
The startup company currently offers training sessions for seven popular games: Call of Duty Warzone, Apex Legends, Escape from Tarkov, Destiny 2, Division 2, World of Warcraft: Battle for Azeroth and Shadowlands, as well as World of Warcraft Classic.
What the Startup Business Wants to do With the Money
Now that the company has $6 million in funding, it can focus on investing in product developments, building on its mobile and desktop applications as well as its hardware supply program.
The startup went through Y Combinator’s startup incubator and has thus far raised over $7 million to help pursue these aims. The most recent round of funding received contributions from Silicon Valley Bank, Scrum VC, Altair Capital, Kevin Lin of Twitch, Ankur Nagpal, TMT Investments, and Denis Smetnev of Vimbox.
Igor Shoifot, who serves as a LegionFarm board member as well as a partner at TMT Investments, said the idea had a bright future.
“The world is moving to new realities, VR, AR, gaming — and in the fiery fields of computer games, some are just killing it (pun intended),” Shoifot said in an email to Crunchbase. “What we, at TMT Investments, loved about LegionFarm (at first sight) was the kind of winning combination that every Silicon Valley VC is seeking: a fast-growing young industry, a highly viral product, healthy unit economics, and focus on building fast growth fundamentals.”
The Value of the Global Gaming Business
The global gaming business is undergoing something of a renaissance. The advent of new technologies like virtual reality and augmented reality have revealed new possibilities in the world of gaming, and the market is reflecting these gains.
A Research and Markets report suggests that the gaming business is growing at a compound annual growth rate of over 9% and is expected to reach a total valuation of $287.1 billion by 2026. This is exceptional growth for the gaming industry, and it’s because of a few key factors.
The fact is that esports — in other words, competitive video games — are becoming more popular. And amid the pandemic, when millions of gamers across the globe are stuck inside brushing up on their gaming skills, this demand has likely grown even more than it had previously. Either way, LegionFarm’s business is growing, and the founder of the startup business, Alex Beliankin, is optimistic about the future.
“I think we’re going to skyrocket because we see some huge potential here,” he told TechCrunch.
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.