North American esports organisation 100 Thieves has raised $60m (GBP45m) from its Series C financing round.
The financing round was led by Green Bay Ventures with support from existing and new investors such as Breyer Capital, Aglae Ventures, Tao Capital, and Willoughby Capital, among others. According to the release, the investment sees 100 Thieves have a value of around $460m (~GBP345.5m).
Image credit: 100 Thieves
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The financial round follows a successful series B round from 2019 when the company raised $35m. 100 Thieves currently fields teams in a number of esports titles such as VALORANT and League of Legends. Moreover, the organisation also has a content creation team that includes the likes of streamers and co-owners Rachell ‘Valkyrae’ Hofstetter and Jack ‘CouRage’ Dunlop.
Regarding the funding round, Matthew ‘Nadeshot’ Haag, Founder and CEO of 100 Thieves, commented: “Our performance in 2021 exceeded all of my expectations. We have delivered on our core promise of elevating gaming culture while building a strong business and brand for the long term.
“100 Thieves now has the capital to launch and acquire new companies that I know our community will love.”
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The news comes after a fruitful year for 100 Thieves, which includes partnerships with Lil Nas X and Lexus as well as acquiring peripheral brand Higround. The company noted in a release that the financial injection will be used to ‘support the rapid growth of 100 Thieves core esports, entertainment, and apparel businesses’ as well as helping launch new businesses.
Esports Insider says: 100 thieves is one of the biggest brands in NA esports, and is probably one of the organisations in North America that made the most out of 2021. The new round of financing will help 100 Thieves improve all aspects of business, and perhaps get ready for more acquisitions in the near future.