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GP Bullhound completes a follow-on investment in Challengermode

Making esports accessible to everyone.

26 August 2020 - Founded in 2014 Challengermode has swiftly secured its position as one of the leading providers of the operating infrastructure powering esports and online tournaments. The company has grown impressively, having hosted millions of competitions and has become a regular place for gamers to congregate, practice and compete in esports.

Challengermode successfully closed an external financing round of $12m led by eWTP Innovation Fund, the global investment arm of the Alibaba Group, with additional support from GP Bullhound, Telia Ventures, Back in Black and football legend Zlatan Ibrahimovic.

Hampus Hellermark of GP Bullhound, said: “We have a strong vision for the future of esports and believe Challengermode has a unique opportunity to be a driving force in making that vision a reality. We are excited to continue to support Robel and the team on their quest to make esports accessible to everyone.”

“We are very excited to close this new financing round with the support of a strong set of investors who share our vision for esports. With the additional backing, we’re able to double down on our core mission of delivering the best competitive gaming experience to each and everyone’s home, in any game,” commented Robel Efrem, CEO of Challengermode.

GP Bullhound completed its first investment in Challengermode in 2018 through Fund IV, which focuses on growth stage businesses in the software, digital media, marketplaces and fintech sectors. Previous investments include Ravenpack, Slack, Klarna, Unity, Glovo and Believe.

For enquiries, please contact:
Joakim Dal, Partner,
Hampus Hellermark, Associate,

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit

GP Bullhound Fund V
Following the successful strategy of its predecessor funds, GP Bullhound Fund V recently held its first close of €125m, focusing on growth-stage businesses in the software industry. Read more here.

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