Beastcoast Closes $ 2.5 Million Seed Financing Round

North American esports organization Beastcoast has closed a round of seed funding at around $ 2.5 million. Note that the fundraising was attended by Andover Ventures, Elevate Ventures and Techstars, as well as investors Stephen Teamares (formerly Bed Bath & Beyond) and Scott Dorsey, managing director partner of High Alpha Ventures.

According to the press release, funding has been used over the past two years throughout the preliminary round to facilitate Beastcoast's expansion. This included the support of the content team, the acquisition of a North American slot in the Rainbow 6 Siege Pro League, and the creation of a Dota 2 squad.

Beastcoast also announced that it plans to launch the next round in the second quarter. With this funding, the organization plans to expand its marketing units and acquire a studio.

In addition to securing a range of partnerships with HyperX, Respawn Products and Betway, Beastcoast was the first esports company to join Techstars through its Sports Accelerator program. This initiative is designed to scale sports tech startups.