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Metafy Raises $8.65M In Latest Round Of Funding

Pittsburgh-based company Metafy recently announced it raised $8.65 million in an expanded seed round of funding. This round of investing was led by Forerunner Ventures, with contributions from Alexis Ohanian’s Seven Seven Six and the venture capital firm DCM.

Metafy is reportedly hoping to build a “middle class” in the gaming ecosystem. It is also working to provide novice gamers with the coaching they need to succeed in the industry.

“It was like magic,” said Metafy CEO Josh Fabian. “I was playing on the train and in bathrooms — all the places you can play mobile games. I was pretty good. So when I left my job at Groupon, it was primarily to pursue playing that game professionally: eight hours a day, every day. And I would take notes. Every time I lost the game, I’d write down the name of the person I lost to; I’d write down what I could have done differently. And then I would review those things in the evening to plan for what I would do differently the next day. And that was like, insane. But it paid off — I was (in the) top 20 in the world for about a year.”

So far, Metafy features a roster of more than 450 esports coaches worldwide. Some of the games these people specialize in are Mortal Kombat 11, Super Smash Bros Melee, and Magic: The Gathering Arena.

The Profit‘s Take:

It feels to me that the game coaching market is quickly becoming oversaturated, with very little differentiation between all the players.

(All information was provided by Next Pittsburgh)

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