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eSports: Fnatic raises $19 million

by new_c_admin

Fnatic, the London-based global esports brand, has raised $19 million in funding to fuel its expansion. It also shuffled its executive team.

Fnatic founder Sam Mathews will become CEO again, while former CEO Wouter Sleijffers is stepping down after four years. Nick Fry, former Mercedes AMG F1 CEO, has been named chairman, and Affectv founder Glen Calvert has been named chief operating officer.

Entrepreneur Lev Leviev of LVL1 Group led the round, with support from investors including Beringea, BlackPine, Unbound, and Joi Ito.

“It’s been a good, successful 12 months, and we’ve solidified ourselves as the biggest global esports brand when it comes to results and awareness,” Mathews said, in an interview with GamesBeat. “We are shifting into the next gear as a business. It’s a huge step toward becoming a global lifestyle brand.”

With this investment, Fnatic will enter the next phase of its global expansion, strengthen involvement in tier-one leagues, including the League of Legends European Championships, launch new product categories in its esports equipment subsidiary including a new audio line.

It will also beef up its marketing for both new and existing brands globally.

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