Toronto Defiant ownership group OverActive Media announced today the closure of its latest $22 million funding round. This round is in addition to the $21.5 million raised in October 2018. OverActive Media will use this round to fund its Overwatch League team, Toronto Defiant, and its League of Legends European Championship team, Splyce.
Funding will also be used to finalize its acquisition of Splyce, which has been working with the organization since November when the acquisition agreement was signed. OverActive Media expects the acquisition to be finalized over the next month.
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OverActive Media did not name investors that contributed to the recent round, only noting that “current and new shareholders, including institutional, corporate and private investors” were involved. The funding round was completed on a “non-brokered basis.”
“This is another key milestone in the evolution of OverActive Media into a premier global esports ownership platform,” OverActive Media CEO and president Chris Overholt said in a statement. “We are humbled by the enthusiastic response from investors and partners around the world. We look forward to pushing ahead with our core franchise strategy, and to building out our already-strong fan communities with our players, sponsors and partners.”
OverActive Media owns teams in Call of Duty, Smite, Rocket League, and StarCraft 2, alongside its League of Legends and Overwatch teams. OverActive Media was named an Overwatch League team owner last year. The team’s name and branding was revealed in October 2018.
