Global eSports brand Fnatic receives major investments in funding round
Fnatic completes a very successful Series A funding round
Global eSports organization Fnatic has just closed the shutters on a Series A funding round that should make the group proud. Stepping up to participate in the investment opportunity was Lev Levieve ofLVL1 Group, with additional support from several current investors, including BlackPine, Beringea, Joi Ito and Unbound. By the time the funding round had ended, Fnatic had raised $19 million in investments.
The money will go toward the group’s global expansion plans. It will help it grab a more stable footing in tier-one leagues such as the League of Legends European Championships, as well as up its participation in its other sports, Dota 2, Fortnite, Counter-Strike and more.
Fnatic will also launch additional product categories for its equipment subsidiary, including a new audio line, and will increase its marketing efforts to reach for brands on a global level. The company’s founder, Sam Mathews, explains, “This is a pivotal moment in the evolution of Fnatic. I am incredibly proud of what we’ve achieved over the past 15 years and now is the time to build on this strong foundation to realize our vision of being the leading global esports brand. To have such high caliber investors is telling of the potential they see in Fnatic and our future.”
Mathews is preparing to take over as the organization’s CEO following the announcement that Wouter Sleijffers would vacate the position. Nick Fry, the former CEO of Mercedes AMG F1, is now the group’s chairman and the founder of Affectv, Glen Calvert, has joined as the Chief Operating Officer.