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Azubu secures $34.5 Million from Sapinda Group

Azubu has secured an additional $34.5 million in funding from the Sapinda Group, who is also behind Clauf (ESGN) and GEM.

Update - 5:15 PM PST: Azubu CEO Ian Sharpe and Director of Content Matthew Gunnin have sent statements to onGamers, with Sharpe's comments aiming to address the issues surrounding the company's history.

"This announcement is about financing, but money is just a means to an end", said Sharpe. "Our strategic goal with Sapinda is to do what's necessary to grow the eSports ecosystem -- to make a bigger pie, so to speak -- and to raise the bar of eSports broadcasting."

"What is important to recognize about our financial backing is that it's more than sufficient to carry Azubu where we need to go. There are substantial costs involved in creating an eSports broadcast platform; top-notch technology, personnel, talent and infrastructure. A global service is orders of magnitude more complicated and expensive, but eSports is a global phenomenon and it deserves -- at long last -- a global broadcast platform."

"So, forget what you think you know about Azubu. Ignore the idle speculation. This is what we're going to deliver, which everyone will soon see, and Sapinda's support is going to fuel these efforts."

Gunnin echoes Sharpe's sentiment, including to why he left Curse for Azubu.

"Sapinda's long-term commitment to eSports and Azubu is one of the things that convinced me to come over to Azubu", said Gunnin. "It's critical to have a corporate parent that really cares about the scene and Sapinda is making sure that we have the resources to make a best-in-class product."

"We're going to be creating some groundbreaking types of content and that's not cheap. I'm glad that we have the opportunity to do it the right way because people have gotten used to substandard streaming content. More to come!"

onGamers will be conducting extended in-depth interviews with Sharpe and Gunnin.

Original Story: Azubu has announced today that the Sapinda Group has reached an agreement to invest $34.5 Million to the company.

This investment precedes a major relaunch of the Azubu platform next month which includes the Azubu.tv, onGamers has learned. Earlier this month onGamers reported that Leaguepedia founder Matthew Gunnin was headed to Azubu to be the new Director of Content.

A spokesperson for Sapinda further added, “eSports deserves a premier broadcast platform which respects the global nature of eSports. We’re committed to providing the support necessary to ensure that Azubu will deliver this for eSports fans worldwide and that the service will evolve as quickly as eSports itself. Azubu has the leadership, vision, partnerships and technology to radically elevate the eSports viewing experience, driving greater engagement between players, fans and the brands that support them.”

Gunnin says that a mobile app is currently "in the works".

Sapinda Group is currently the investment group behind Azubu, Clauf (ESGN), and Global Esports Management (GEM).

In October, new Azubu CEO Ian Sharpe said they have a plan put in place for upcoming announcements.

“At Azubu we offer seamless game streaming, but that’s just the tip of the iceberg”, said Sharpe at the time. “We’re also introducing talented young players, providing insightful commentary and broadening eSports-awareness at the corporate and consumer levels. Many exciting channels and changes will be delivered over the next few months.”

Story developing...

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