Ending its third quarter on a high note, ATEL Ventures, Inc. announces the funding of its 119th portfolio company with a $4 million growth capital venture debt loan to Bay Area startup Skillz.
Skillz is a worldwide leader in mobile eSports and is powering the future of eSports competitions by focusing on premium experiences for both players and developers. The company has a tournament management system that can be integrated into any mobile game. The platform enables developers to offer eSports competitions to their users and has transformed monetization of mobile gaming.
Every month more than 1,600 game studios use the Skillz platform that has awarded over $2 million in cash prizes to players. Expanded to over 180 countries, Skillz has hosted more than 70 million mobile tournaments with players of all skill levels, competing in in tournaments of all sizes. Skillz has offices in San Francisco and Boston and has raised over $28 million in funding from diverse sources - including the owners of the New England Patriots, Milwaukee Bucks and New York Mets.