Rivalry announces $20m funding round

Toronto-based esports betting platform Rivalry has announced the completion of a $20m funding round to scale its operations and country licensing programme.

According to the release, the funding round comprised institutional investors from Canada, the United States, the European Union, and an unnamed ‘major gaming operator’. Additionally, Rivalry has announced its intention to pursue an initial public offering (IPO), anticipated to be completed later this year.

Credit: RivalrySteven Salz, Rivalry Co-founder and CEO, commented on the news in a release: “With the close of this funding round we are able to accelerate our expansion plans through new licences and grey markets under our existing…