Cloud9 Raises $25 Million in Funding From WWE, Hunter Pence and Others
Cloud9 has just concluded a successful round of funding that has raised $25 million from several notable companies and individuals in traditional sports, media, and entertainment.
The investment comes from the likes of the WWE, Beverly Hills Sports Council, San Francisco Giants outfielder Hunter Pence, Monumental Sports & Entertainment co-owner Raul Fernandez, Creative Artists Agency co-founder Michael Ovitz, and venture capital firm Founders Fund among others.
In addition, several investors that were part of an earlier round of funding for the North American esports organization this year have decided to increase their stake.
“We just thought that Cloud9 team had developed lots of expertise and we’re just really, really impressed with Jack and the rest of the staff; how professional they were, how organized, and how much infrastructure they had built for a small organization,” WWE chief strategy and financial officer George Barrios told ESPN.
Cloud9 sought the additional funding in light of its recent endeavours that amount to $30 million. It purchased a slot in the Overwatch League a few months back that was rumored to be around $20 million. It has also been reportedly accepted for the newly franchised League of Legends circuit next year that will require another $10 million in fees.
Cloud9 currently has representation in eight games. This includes Counter-Strike: Global Offensive, Hearthstone, Rocket League, PlayerUnknown’s Battlegrounds, Vainglory, and Super Smash Bros. The organization has enjoyed success in most of them in recent seasons.