Esports outfit Cloud9 scoops up $50m Series B funding round
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Oct 16, 2018 | investment | Cloud9 | $50m |
Esports outfit Cloud9 has raised $50 million in a Series B funding round.
The company has professional competitive teams across a raft of games, including Fortnite, Clash Royale, Hearthstone, League of Legends, Counter-Strike: Global Offensive, Overwatch and more.
Forbes reports the latest investment round was led by Valor Equity Partners, with its founder Antonio Gracias joining the Cloud 9 board.
Other investors included TrueBridge Capital Partners, Reimagined Ventures and Glassdoor founder Robert Hohman.
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It’s not clear what Cloud9’s exact plans are for influx of funding. It comes a year after the company took a $20 million Series A financing round., co-led by the Founders Fund.
The firm is currently building a 20,000-to-30,000 square foot training facility in Los Angeles. It hopes to move much of its staff in the region to a central location, as well as have the centre act as a space for potential future esports stars to receive coaching.
Amidst news of the funding round, Forbes added Cloud9 to its list of the next billion-dollar start-ups for 2018. The only other games company on the list is another esports/competitive gaming-based business, Skillz.
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