Fnatic,
the leading global esports brand, today announced it has secured $19
million USD in Series A funding. The investment round was led by tech
entrepreneur Lev Leviev of LVL1 Group with new and continued support
from investors including transatlantic VC firm Beringea, BlackPine, Unbound and Joi
Ito.
With this investment, Fnatic will enter the next phase of its global
expansion, strengthen involvement in tier-one leagues, including the
League of Legends European Championships, launch new product categories
in its esports equipment subsidiary including a new audio line, as well
as scaling up resources to deliver and deploy marketing efforts and
reach for brands on an international scale.
To support the company’s rapid growth, a new leadership team is being
appointed. Former Mercedes AMG F1 Chief Executive Officer (CEO) Nick Fry
is named Chairman, serial entrepreneur and founder of Affectv Glen
Calvert is appointed COO and Fnatic’s founder, Sam Mathews, set to
retake the CEO position.
Lead investor Lev Leviev said “Esports is the future of entertainment
as well as one of the most dynamic and exciting emerging industries out
there. Fnatic has established itself as a driving force both on the
competitive stage and as a global business in esports, I’m excited to be
part of the next chapter as Fnatic scales into a global lifestyle brand.”
“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 realise 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,” added
new CEO, Sam Mathews.
The latest round of investment will be used to structure the company for
further expansion into Asia and North America, continue to partner with
the most forward-thinking global brands and to cement its position as
the leading lifestyle esports organisation globally.
For more information about Fnatic, visit www.fnatic.com.
ENDS
About Fnatic
Fnatic is a leading, global esports organisation with professional teams
and unrivalled legacy in the most popular competitive games, including
League of Legends, Counter-Strike, Dota 2, Fortnite, and more.
Founded in 2004 by Sam Mathews, Fnatic teams have claimed multiple
international championships since its inception, including the inaugural
League of Legends World Championship, seven EU LCS Championships and
three separate CS:GO Majors, a record unparalleled by any other team.
Dedicated to being the first globally recognised esports lifestyle
brand, Fnatic develops a line of award-winning gaming peripherals
in-house, Fnatic GEAR, designs and produces a number of apparel lines as
well as partners with the most forward-thinking global brands.
Fnatic is headquartered in London, United Kingdom with additional
operational locations in Berlin, Belgrade, Los Angeles, Taipei, Shenzhen
and Kuala Lumpur.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190430006092/en/