Looking to become the meme-based social network of the gaming world Medal.tv raises $9 million – gpgmail


When Medal.tv first launched on the scene, the company was an upstart trying to be the social network for the gaming generation.

Since its debut in February, the clipping and messaging service for gamers has amassed 5 million total users with hundreds of thousands of daily active users. And now it has a $9 million new investment from firms led by Horizons Ventures, the venture capital fund established by Hong Kong multi-billionaire Li Kashing.

“We’re seeing sharing of short-form video emerge as a means of self-expression and entertainment for the current generation. We believe Medal’s platform will be a foundation for interactive social experiences beyond what you can find in a game,” says Jonathan Tam, an investor with Horizons Ventures .

Medal sees potential both in its social network and in the ability for game developers to use the platform as a marketing and discovery tool for the gaming audience.

“Friends are the main driver of game discovery, and game developers benefit from shareable games as a result. Medal.tv is trying to enable that without the complexity of streaming,” says Matteo Vallone, the former head of Google Play games in Europe and an angel investor in Medal.

It’s a platform that saw investors willing to fork over as much as $20 million for the company, according to chief executive Pim DeWitte. “There are still too many risks involved to take capital like that,” DeWitte says.

Instead the $9 million from Horizons, and previous investors like Makers Fund will be used to steadily grow the business.

“At Medal, we believe the next big social platform will emerge in gaming, perhaps built on top of short-form content, partially as a result of gaming publishers trying to build their own isolated gaming stores and systems,” said DeWitte, in a statement. “That drives social fragmentation in the market and brings out the need for platforms such as Medal and Discord, which unite gamers across games and platforms in a meaningful way.”

As digital gaming becomes the social medium of choice for a generation, new tools that allow consumers to share their virtual experiences will become increasingly common. This phenomenon will only accelerate as more events like the Marshmello concert in Fortnite become the norm.

“Medal has the exciting potential to enable a seamless social exchange of virtual experiences,” says Ryann Lai, an investor from Makers Fund.


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Launching from beta, ProGuides is making money ensuring that gamers never play alone – gpgmail


When ProGuides pulled the covers off of its service earlier this year, the young Los Angeles-based startup intended to give gamers a way to train with professional and semi-pro esports players from around the world.

But as users signed on to the service, it became clear that they weren’t looking for training necessarily… Instead what players wanted was a ringer.

“After we launched the beta, we found some interesting user behavior,” says Sam Wang. “We found that gamers who were experienced already and wanted experienced players who are better than [the matches] the game can provide… At the end of the day you do get to play with someone pretty awesome and is something that i think  can make games better.

That’s right, ProGuides is pitching a marketplace for experienced gamers so that its customers aren’t randomly matched with some noob if they can’t game with their usual partners.

“Our tagline is ‘Play with pros’ now,” says Wang. “We already have over 5,000 sessions that were played in the last two months.”

The professional gamers who list their services on the site charge an average of $10 per session and ProGuides takes about a 25% cut. The company lowers its rates for popular gamers or gamers who are willing to spend more time on the platform either selling their services or actually coaching esports players.

Wang says that that pros on the platform are making anywhere from $750 to $2500 per month and that there are currently 250 coaches on the platform.

A typical session on ProGuides lasts around 45 minutes and players are available for Fortnite, League of Legends.  Super Smash Brothers, CS:GO and Hearthstone

ProGuides raised $1.9 million in pre-seed funding last June. The company is backed by Amplify, an LA-based early stage investor and company accelerator, Quest Venture Partners, Greycroft Tracker fund and the GFR Fund.

The LA-based company also has some venture-backed competition on the East Coast. Gamer Sensei, which has raised roughly $6 million (according to CrunchBase) has a similar proposition. It’s backed by Accomplice and Advancit Capital.


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