Published By : 24 Oct 2017 | Published By : QYRESEARCH
Esports pioneer Cloud9 announced today an investment of US$25 million in their Series A funding. The round represents a major boost for Cloud9, who have become one of the leading players in the Esports sector in recent years. Founders Fund and Bill Lee, both of whom were part of Cloud9’s seed round of investment, were part of the Series A round as well, with the latter putting in his investment in collaboration with tech investor David Sacks. Other traditional investors in the sports world have also joined hands with Cloud9 in the Series A round, with Raul Fernandez, co-owner of Washington Capitals and Wizards, Michael Ovitz, cofounder of leading talent agency Creative Artist Agency, and the Beverley Hills Sports Council all joining in to make it a highly successful Series A round for Cloud9.
World Wrestling Entertainment (WWE) have also become part of Cloud9’s growing investor base thanks to its growing interest in esports as an expansion medium for the highly popular wrestling series. Innovating through their venture portfolio has become a major agenda for WWE, with the immense potential of esports making it a major feature of their expansion program in the near future. Earlier this month, WWE staged a livestream event in collaboration with IGN Entertainment, called WWE x IGN esports Showdown. The event pitted current WWE wrestlers as part of the fighting game Marvel vs. Capcom: Infinite. WWE have also become part of Drone Racing League as a Series B investment.
Founders Fund partner Brian Singerman is set to join Cloud9’s board of directors as part of the investment. WWE and San Francisco Giants Outfielder Hunter Pence will also join Cloud9 as board observers. Pence was part of the seed round investment for Cloud9.