Funding trail evolves towards ‘the inevitable’ for this Minneapolis startup



Minneapolis startup Echobit is raising $350k to finance the expansion of core product and gaming startup Evolve, according to a disclosure recently filed with the SEC.

Co founded in 2006 by Adam Sellke, Soren Dreijer and Michael Amundson, the venture appears to be gearing up for a Series A round, having raised an approximate $500k to date. 

Evolve went into open beta in January and has acquired 20,000 registered users who have logged “over 100 years’ worth or game-time on the platform to-date,” says Sellke. “We’re looking at 15M members in the next 3.5 years in what’s currently a $44B market and growing.”

Created to address accessibility problems created by proprietary industry heavyweights like Valve/Steam, EA Origin, Activision/, Evolve is fundamentally an “open, out-of-band communication and collaboration channel,” he explains.

“In an expansive industry with multiple, in-band communication silos like ours, out-of-band become inevitable. Evolve is out-of-band. Evolve is inevitable.”

An earlier piece offers deeper context on Evolve as does this TECHdotMN TV interview with the team @ 6:40.

KC Associates