Wehype raises Series Seed Round Led by Brightly Ventures and Inbox Capital
Uppsala-based Wehype today announced it has raised SEK 12.5 million in Series Seed funding, co-led by Brightly Ventures and Inbox Capital, with participation from a prominent group of angel investors.
Wehype addresses the fast-growing advertising market within Esports and gaming and provides an easy-to-use tool to reach this massive audience on multiple platforms. The investment will accelerate Wehype’s mission to open up this media property and will be used to scale the business internationally.
“Wehype is building something very timely and interesting, ensuring that gaming influencers and brands can collaborate in a seamless way. Currently it is far too complicated for brands to advertise efficiently in this channel. It is hard to know which influencers that fit the brand and to understand the impact of campaigns. By opening up this channel for professional advertisers, the platform allows influencers to better monetize the content they produce. We’re happy to support Wehype in addressing the global trend shift in this large market “, says John Elvesjö, Managing Partner at Brightly Ventures.
“It’s amazing to see how gaming & Esport in a relatively short period of time has gone from a subcultural phenomenon, to a billion dollar entertainment industry. We can see that the younger generation is moving away from traditional media with online content from their favorite gaming personalities fast becoming their entertainment vehicle of choice instead. We create the tools to help advertisers reach this massive audience in an easy, secure and scalable way. Simultaneously we enhance the overall experience and ease the administrative burden for the content creator”, says Robin Åström, CEO and Founder of Wehype.” To have such prominent investors as Brightly Ventures and Inbox Capital onboard validates our strong business fundamentals. Their investment, knowledge and network will enable us to further strengthen the team, focus on growth and international expansion.”
Brightly Ventures is backed by The Swedish Venture Initiative. The Swedish Venture Initiative is an initiative created by cooperation between Sweden and the European Investment Fund and financed under European Structural and Investment Funds.