Investors seem to remain bullish on the game.
Gaming style brand 100 Thieves on Thursday closed a $60 million Series C funding round, raising the company’s valuation to $460 million. Green Bay Ventures led the round, and additional participants include new and existing investors Breyer Capital, Tao Capital, Willoughby Capital, Artist Capital Management and Aglae Ventures, Groupe Arnault’s technology investment arm. East control of LVMH Moët Hennessy Louis Vuitton.
The brand will use the new capital to accelerate growth in its core esports, entertainment and apparel sectors, and launch new businesses and strategic acquisitions. In October, the Los Angeles-based organization acquired tech hardware company Higround, marking its first acquisition. Previously, the company launched a backpack product in collaboration with Gucci.
According to 100 Thieves, revenue growth has more than doubled this year compared to 2020. Since its founding in 2017, the organization has built a community of 100 million fans and in 2020 , the organization opened a new 15,000 square foot esports facility. serves as a content production studio and retail store.
“This new round of funding is confirmation from our investors and community that we have exceeded expectations and accomplished what,” said John Robinson, president and chief executive officer of 100 Thieves. we made a promise in esports, content and apparel,” said John Robinson, president and chief executive officer of 100 Thieves. “We are now happy to use this growth capital to build the next chapter of 100 Thieves because we are just getting started.”
The new funding comes more than a month after FaZe Clan revealed its plans to go public through a merger with B. Riley Principal 150 Merger Corp.
Fashion companies and brands seem to be aiming for direct collaborations with games rather than e-sports organizations, such as Jordan’s latest entry into Fortnite, as well as Balenciaga and Esports. Moncler. Additionally, Nike launched Nikeland at Roblox following speculation about the active fashion giant’s interest in the metaverse.
However, the new funding for 100 Thieves shows that there is still interest and room to grow for eSports organizations and their strategy of combining tournament winning with content and online streaming. chemical.
Previous investors in 100 Thieves include Dan Gilbert, rapper Drake and SB Projects founder Scooter Braun.
https://wwd.com/fashion-news/fashion-scoops/100-thieves-secures-60-million-in-series-c-funding-1235008495/ 100 Thieves Secures $60 Million in Series C Funding – WWD