Friday, May 20, 2022

100 Thieves raise $ 60 million to help fund Series C

On Thursday, esports organization and lifestyle brand 100 thieves announced they raised $ 60 million to help fund Series C. This is the most money raised in serial funding to date, and brings the 100 thieves’ rating to $ 460 million after three separate rounds of funding.

“I’m excited to see the review, but it doesn’t stop there,” 100 Thieves CEO Matthew “Nadeshot” Hague said Forbes. “Evaluation is one thing, but delivering results for our investors, our community and our board members in the future is the ultimate goal. We really just want to build the most complete gaming brand the world has ever seen. I think we are well on the way to doing this. “

Two years ago, 100 Thieves had a valuation of $ 160 million following its Series B funding, which raised $ 35 million from various investors. The continued growth in funding follows the pace of growth of the company itself. 100 thieves are currently competing in VALORANT, Apex Legends, Fortnite, League of Legends and Call of Duty. Aside from their various competitive titles, 100 Thieves also have multiple streamers and content creators for these various titles.

100 thieves keep expanding

Since the company was founded in 2018, Nadeshot has attracted several highly valued investors to the team. Well-known personalities include Dan Gilbert, owner of the Cleveland Cavaliers, popular rapper and actor Drake and media owner Scooter Braun. In addition to the millions in revenue from these powerful investors, 100 Thieves have also partnered with companies like Cash App, Dollar Shave Club and Rockstar Energy.

“The traditional response from other competitors was that they wanted to be the Yankees for video games,” 100 Thieves COO John Robinson shared with Forbes. “When I met Nadeshot, his ambitions were so much bigger and the idea of ​​what 100 Thieves could be was so different. It was the three core businesses of clothing, esports and entertainment. I found that enormously convincing and different from everything else that happened in the gaming landscape. “

100 Thieves have built their reputation in the esports world by earning trophies in League of Legends, Call of Duty, Fortnite and VALORANT, while also cementing themselves in the streetwear world with their various apparel collections. Now valued at $ 460 million, 100 Thieves will continue to set new standards in the esports industry.

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