- Bit Fry Game Studios — an arcade-action sports video game developer for all platforms — announced it raised $3.5 million from 1Up Ventures and BITKRAFT Esports Ventures
Bit Fry Game Studios — an arcade-action sports video game developer for all platforms — announced recently that it is continuing its funding performance with an additional combined $3.5 million from 1Up Ventures (founded by Xbox co-creator Ed Fries) and esports focused venture capital fund BITKRAFT Esports Ventures. This capital will be used for supporting the continued growth of Bit Fry’s rapidly growing arcade-action sports gaming franchise called Ultimate Rivals — which recently had its premiere launch on Apple Arcade.
“As we continue to expand our franchise into the competitive gaming space, I can’t think of better capital and strategic partners than BITKRAFT and 1Up Ventures,” said Benjamin Freidlin, CEO and Founder of Bit Fry Game Studios. “BITKRAFT is the world’s preeminent esports-focused fund, and Ed is a gaming luminary as co-creator of Xbox. Their investments demonstrate how our studio continues to attract leading strategic capital players in this highly competitive space.”
1Up Ventures General Partner and Xbox co-creator Ed Fries agreed that there has been a slow evolution of great sports video games over the past 25 years. And he said that the market has calcified.
“Bit Fry’s ability to execute on its vision has been nothing short of remarkable. They’re continuing to attack an opportunity previously thought impenetrable and is long past due,” noted Fries.
Bit Fry’s licensing agreements are with 10 major professional sports organizations, including the National Hockey League, the National Hockey League Players Association, the National Basketball Association, the National Basketball Players Association, the National Football League Players Association, Major League Baseball, the Major League Baseball Players Association, the Women’s National Basketball Association, the Women’s National Basketball Players Association, the U.S. Women’s National Soccer Team Players Association, and Wayne Gretzky.
“The sports video gaming category is overdue for innovation that’s relevant to today’s gamers, platforms, and the broader entertainment culture,” added Scott Rupp, a Founding General Partner of BITKRAFT. “Bit Fry CEO Ben Freidlin is a force of nature and the perfect person to disrupt this space. Ultimate Rivals is just getting started and will re-define this category for the long-term.”
Along with expanding its franchise into additional sports, the studio announced two key hires in support of its growing interest in the competitive gaming and esports space:
Nick Caras
Nick Caras (BreakyCPK) is joining as Bit Fry’s new Vice President of Competitive Gaming Strategy. Caras is an experienced esports shoutcaster and is classically trained in stick and ball sports broadcasting. Plus he has been involved in esports, including games like Heroes of Newerth, Dota 2, Counter-Strike: Global Offensive, Overwatch, World of Warcraft and more.
Hali Oughton
Hali Oughton is joining as Bit Fry’s new Vice President of Community and Engagement. And she brings deep digital and social sports experience covering 20 different sports in roles from on-air hosting and streaming to video production and branding.
Bit Fry was originally founded in 2013 with its first investment coming from Red Sox owner and Vice-Chairman Les Otten. And the company’s investors also include MLB All-Star and World Series champion Ryan Howard, private equity fund Dugout Ventures, March Capital co-founding partner Gregory Milken, Barclays’ head of Equities Trading for the Americas Todd Sandoz, and the late NBA Commissioner Emeritus, David Stern.
