Fnatic raises $19 million in Series A funding round

Fnatic has global ambitions.

FNC funding
Photo via Riot Games

Fnatic has secured $19 million dollars in a major funding round intended to fuel the team’s global expansion.

Fnatic’s League of Legends European Championship team has been one of the most successful teams in the European League of Legends scene for almost as long as that scene has existed. The organization also runs a successful CS:GO team that has won multiple major championships, staying in the top 20 teams in the world for the past five years.

Fnatic will use its investment to expand into Asia and North America, while also supporting its involvement in top-tier leagues like the LEC. The funding will also help the organization launch more of its Fnatic Gear products, including a new audio line that the team has been planning.

Fnatic founder Sam Mathews has returned to the Chief Executive Officer role, while Wouter Sleijffers has stepped down from the position after four years. Also, former Mercedes AMG F1 CEO Nick Fry has been named Chairman and Affectv founder Glen Calvert has been named COO.

“This is a pivotal moment in the evolution of Fnatic,” Mathews said. “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 realize our vision of being the leading global esports brand.”

The funding round includes contributions from entrepreneur Lev Leviev of LVL1 Group, Beringea, BlackPine, Unbound, Raptor Group, and Joi Ito.