Cloud9 brings in $25 million in funding from WWE, Hunter Pence, and more

The investment will help Cloud9 with its hefty league buy-in fees.
Photo via [Riot Games](https://www.flickr.com/photos/lolesports/36678689245/)

North American esports organization Cloud9 has raised $25 million in a Series A investment round, with new partners from across sports, media, and entertainment.

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Funding comes the likes of the WWE, San Francisco Giants outfielder Hunter Pence, and the Beverly Hills Sports Council. Monumental Sports & Entertainment co-owner Raul Fernandez is also among the investors, according to ESPN. Founders Fund, made up of a number of PayPal founders, led the Series A round.

Related: Report: TSM, Cloud9, CLG, and Team Liquid claim spots in the NA LCS

WWE chief strategy and financial officer George Barrios told ESPN the company had been previously interested in esports and had evaluated a number of teams. WWE locked in on Cloud9 for its potential long-term success.

“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,” Barrios told ESPN. “We thought they were on their way. We looked at a lot of players and they were the ones we put in the top tier.”

Like Pence, Reddit co-founder Alexis Ohanian also upped his investment in Cloud9 during the Series A funding round. Pence will now sit on Cloud9’s board.

The investment couldn’t have come at a better time. Cloud9 is confirmed for Blizzard’s Overwatch League, which reportedly required a $20 million buy-in. The organization will also reportedly join Riot Games’ franchised League of Legends league, requiring another $10 million in entry fees.

Cloud9 owner also told ESPN the money would potentially go toward a Cloud9 facility in Los Angeles. Cloud9 current fields players for League of Legends, Counter-Strike: Global Offensive, Overwatch, Hearthstone, Super Smash Bros., Rocket League, PUBG, and Vainglory.

H/T ESPN


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Nicole Carpenter
Nicole Carpenter is a reporter for Dot Esports. She lives in Massachusetts with her cat, Puppy, and dog, Major. She's a Zenyatta main who'd rather be playing D.Va.