UK-based esports and gaming job platform Hitmarker has launched its second equity crowdfunding campaign, with a target of £200K GBP. 

The UK-based company says it plans to use call capital raised in the campaign to fund the rollout of localised platforms across new markets in Latin America, Europe, and Asia. 

In last November’s pre-seed round, Hitmarker smashed its £80K GBP target, raising £166,050 in just seven days – 207% the original target, and valuing the company at £1.9M. The company used the capital to double its headcount to 10 full-time staff, which enabled it to expand from esports to the wider video game industry. 

Since then, Hitmarker has seen job postings rocket 1,000%, the number of registered users surge 99%, signed 18 new partners, and seen explosive growth across all key metrics, including significantly growing its revenue quarter-on-quarter. 

Now the company is returning to British equity crowdfunding platform Crowdcube to raise a minimum of £200K in return for 4% equity. This values Hitmarker at £4.8M pre-money, 2.5x more than in November 2019’s round. 

Capital raised in the new funding round is earmarked for hiring another 10 staff over the coming two years, enabling further expansion through the roll-out of localised Hitmarker platforms in Brazil, Spain, Japan, China, and beyond. Additionally, the company also plans to significantly broaden its feature set to create the first truly global professional network for gamers.

Discussing the funding round Managing Director of Hitmarker, Rich Huggan, said:

“Last November, hundreds of Hitmarker users and members of the esports community empowered us to double our staff team and expand our platform’s coverage to the wider video game industry. We’ve since increased the number of jobs available on Hitmarker by more than 1,000% to over 11,000, making it possible for even more people to work in the industry they love.”

While Hitmarker’s Founder, Philip Huggan, added:

“Now, we’re asking our 380 existing investors, one million-plus users, and the global esports and video game community to empower us to expand our coverage even further.

“We’re going to create localised platforms for Brazil, Spain, Japan, and China to create the first global professional network dedicated to the video game industry, making it easier than ever to find jobs and hire great talent.”

Hitmarker’s seed round is now exclusively open to existing investors, platform users, and members of the wider video game community, with individuals able to invest as little as £11 to own a piece of the company. All investors must be 18+ and legal residents of any country excluding Canada, Japan, and the USA (due to securities laws in those countries). 

All shares in Hitmarker are available on an ordinary basis under Crowdcube’s nominee structure and come with voting rights, pre-emption rights, and equal economic rights. All investors will also receive access to an investor community on Discord, where they will be able to engage with other shareholders and Hitmaker staff to help shape the future of the brand. 

A year ago, we smashed our @Crowdcube equity crowdfunding target in just one week. A lot of people missed out.

We’ve learned our lesson. This time, we’re giving our Twitter followers early access.

You can now own a piece of Hitmarker.https://t.co/TgorxcbZm5

*CAPITAL AT RISK* pic.twitter.com/QjmAK040zY

— Hitmarker | Crowdfunding Now! (@HitmarkerJobs) November 27, 2020

AYO.NEWS says:

With the esports and video game industry experiencing incredible growth around the world it seems like the perfect time for Hitmarker to concentrate on global expansion, and localised sites with more languages are key to doing that. 

Perhaps most interesting about Hitmarker’s fundraising is the way that they’ve made so much progress with comparatively little investment, and deliberately avoided the usual venture capital route – though we’re sure they’ve had plenty of interest from investment firms. 

Not only has this allowed Hitmarker’s leadership team to retain more independence, but it’s also focused minds on creating a genuinely sustainable, revenue generating business model, without the false confidence that can come from having a big pile of VC cash sitting in the bank. 

Earlier this month, AYO.NEWS’ Simona Pinterova caught up with Hitmarker’s Managing Director, Richard Huggan, to find out more about the esports and video gaming jobs market, and what growth plans the company has. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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