The North American eSports organization Cloud9 managed to raise $50 million in funding for the upcoming competitive season.
The biggest part in the investment came from Valor Equity Partners. Other contributors include Reimagined Ventures, TrueBridge Capital Partners and the founder of Glassdoor Robert Hohman. Sealing this deal placed Cloud9 on the Forbes list Next billion-dollar startups, where the estimated revenue of the company for 2018 is about $22 million. Cloud9 is also the only eSports company on that list.
This isn’t the first time Cloud9 has raised money as last year the number reached $25 million. Difference being the reason was clear back then, 20 of those went into buying a slot in Blizzard’s Overwatch League and the rest were spent for Riot’s League of Legends LCS League. It was a good investment considering the results C9 have shown throughout the season. London Spitfire, Cloud9’s Overwatch team, won the first season of Overwatch League and their LoL roster is currently in the top 8 of the LoL World Championship.
Only one question remains, what will the raised money go for? A good guess would be either franchising for a new title to add to the organization’s repertoire or simply building a new training facility in Los Angeles. The latter seems more likely as lots of other eSports orgs are based there and both OW and LoL are generally played in LA. Rumors are Cloud 9 have already began making plans for building a huge facility following in the footsteps of giants like Team Liquid and TSM.