G2 Esports ambitions of becoming a global brand are one step closer to be realized. The organization just announced a $17.3 million round in Series A funding round, bringing its current funding to over $24.6 million.
The investment could prove vital for G2 in an increasingly competitive industry, as deep-pocketed investors flock to esports. With increased pressure on esports organization to provide top quality training facilities, fan content, and participate in ever-growing competitive circuits, obtaining outside investment has become essential for success.
“After an incredibly successful 2018 where we positioned ourselves as one of the leading entertainment assets in esports, G2 is doubling down on international growth and continuing our investment in world-class content creation,” G2 Esports CEO Carlos “ocelote” Rodriguez said. “We have partnered with the right investors, who have a deep understanding of a variety of entertainment industries, and significant experience in scaling successful companies and brands.”
The funding round includes contributions from Brian Distelburger, co-founder and president of brand management company Yext, Myke Naef, Founder of Doodle, and YuChiang Cheng, President of Topgolf Media (which recently announced the introduction of six esports lounges in Topgolf facilities).
G2 said the funds will be used to help build its brand on a global scale and fund franchise fees. It was one of the 10 organization that invested $11.8 million for a spot in the League of Legends European Championship.
G2 are among a string of organization who have recently announced news of investment. The increased popularity of esports has led to a whole host of famous faces wanting a piece of the action.
Rapper Drake and Hollywood manager Scooter Braun teamed up to invest an undisclosed amount of money in North American organization 100 Thieves. Basketball players Stephen Curry and Andre Iguodala were part of a group that invested $37 million into TSM. These followed similar major investments in teams like Immortals, Cloud9, NRG, and others.