FaZe Clan Secures $40 Million in Series A Funding
Esports giant FaZe Clan have secured $40 million in their Series A funding round, which they hope to use to expand operations and get more players.
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Esports giant FaZe Clan have secured $40 million in their Series A funding round, marking a milestone achievement for the organization. FaZe says the deal will support the acquisition of more players, the expansion of its brand as well as contribute to daily operations.
Being one of the most influential esports organizations in the world, FaZe Clan has teams and players competing across the globe in games such as Call of Duty, Counter-Strike: Global Offensive, PlayerUnknown’s Battlegrounds, Tom Clancy’s Rainbow Six Siege, FIFA, and Fortnite.
The news from FaZe comes only a few weeks after the organization announced its plans to partner with entrepreneur Jamie Iovine and NTWRK, a platform that Iovine invested in, who worked together to lead the round of funding.
Those who invested during the funding round include prominent musicians and rappers such as Pitbull, Swae Lee, Yo Gotti, DJ Paul, Ray J, Disco Fries, and Offset. Sports industry leaders such as skateboarder Nyjah Huston, Miami Heat player Myers Leonard, Josh Hart of the New Orleans Pelicans, and Jamal Murry of the Denver Nuggets were also among those who contributed. Other investors from the round of funding include leading figures in the entertainment industry such as Sylvia Rhone, Troy Carter, Chris O’Donnel, Big Boy, and Guy Oseary.
“These influential investors recognize the cultural significance of FaZe Clan as well as the enormous business opportunities around our content, esports teams and apparel,” said FaZe Clan CEO Lee Trink in a press release. He continued on to say, We have a hyper-engaged global audience and FaZe Clan is the most powerful lifestyle brand in all of gaming. This round of funding provides the capital to continue to reshape the future of sports and entertainment.”
“I’m stoked to partner with the homies at FaZe Clan. Pumped for the fans to see what we have in store- gonna be sick,” said Nyjah Houston.
This latest investment secured by FaZe Clan represents a milestone landmark for the organization as well as for the esports industry as a whole. The lineup of investors is studded from top to bottom with industry leaders who carry star power and real influence in pop culture.
FaZe now has the unique potential of being in the forefront of the entertainment industry. The organization has already been hurled into the mainstream from collaborations with celebrities such as Drake, Travis Scott, Ben Simmons, JuJu Smith-Schuster, Lil Yachty, Chris Rock, Adam Sandler and more.
What once started as a couple of gamers doing Call of Duty trick shots has transformed into an industry-leading company and a globally recognized brand. If nothing else, this round of investments is just the latest demonstration in the true prowess of FaZe Clan.
Sources: Esports Insider, Yahoo
Link Source : https://www.thegamer.com/faze-clan-40-million-series-a-funding/