EVOS Esports raised $12 million series B

6 months ago . 1 min read
MP
Marella Putri
Writer at Forbes Indonesia
EVOS Esports raised $12 million series B
Cofounders of EVOS, from left: Wesley Yiu (COO), Michael Wijaya (CMO), Ivan Yeo (CEO), Hartman Harris (CBO), and Ang Teng Jen (CSO). Photograph courtesy of EVOS Esports.

Attention Holdings Pte. Ltd., the parent company of Jakarta-based esports company EVOS Esports, announced having raised a $12 million Series B. The round was led by Korea Investment Partners, and participated by Mirae Asset Ventures, Woowa Brothers, Indogen Capital, several family offices across Southeast Asia and Japan, and existing backer Insignia Ventures Partners led EVOS' $4.4 million series A fundraise in November 2019. Sang-Ho Park, executive director of Korea Investment Partners, will also be joining ATTN's board of directors.

According to ATTN's CSO Ang Teng Jen, the new fund will be mainly used to build out their tech capabilities on the holding level, both internal and esports platforms, that they aim to launch in Q2-2021. 

The company was cofounded in 2016 by Ivan Yeo, Harris Hartman, Michael Wijaya, Wesley Yiu, and Ang Teng Jen. They aim to address problems in the esports industry, such as poor management and career development for the players, and to create a profitable business model. It focuses on building the teams' marketing, social media, brand, and content. EVOS and its professional players monetize through competition prizes, video streaming, and sponsorship through several channels. 

Today, EVOS is the 6th largest esports brand globally by the number of social media followers, as reported by GEEIQ. It has more than 15 teams and operates in five countries in Southeast Asia. Eight teams come from Indonesia, and the rest from Malaysia, Singapore, Thailand, and Vietnam. 

The company claimed that its revenue from its livestreaming arm has doubled since the start of 2020 and continues to peak month after month, with its overall revenue surpassing that of last year despite the pandemic outbreak.

Ivan Yeo is an honoree of Forbes Asia 30 Under 30 2020, Hartman Harris and Wesley Yiu are honorees of Forbes Indonesia 30 Under 30 2020.

MP
Written By
Marella Putri
Writer at Forbes Indonesia
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Technology