GameOn Technology scores $10.5 million in financing for sports and gaming chat platform

GameOn Technology has raised $10.5 million in growth capital in the form of a convertible note financing. That means investors are loaning the company money, and the investors will have the option to convert the loan into ownership in the company. Andrew Ogawa of Quest Ventures led the financing, with participation from Mirae Venture Partners and Silver Lake founder Jim Davidson. One of the features of convertible note financing is that it enables investors to put money into a company without haggling over valuation. The San Francisco-based GameOn Technology makes the proprietary ChatOS platform, which enables sports and gaming companies and brands to create their own exclusive chat applications. The company started with sports, but in 2019, it added esports/gaming customers such as Riot Games and PUBG. The customer base is still about 70%, but esports/gaming represents a big chance for growth in 2020, said Alex Beckman, CEO of GameOn, in an interview with GamesBeat.