- 100 Thieves — a rapidly growing esports company — announced it raised $35 million in Series B led by Artist Capital Management
Esports organization 100 Thieves announced it has raised $35 million in Series B funding led by Artist Capital Management, according to TechCrunch. Group Arnault (the investment arm of Louis Vuitton Moet Hennessy) also joined the round.
In conjunction with this funding round, ACM’s Chief Investment Officer Josh Dienstag is joining Major League Gaming (MLG) cofounder Mike Sepso on the board.
100 Thieves founder and CEO Matt Haag (known as Nadeshot) confirmed with TechCrunch that this round of funding brings 100 Thieves’ post-funding valuation to $160 million, up from $90 million as of October 2018.
Haag —who is also a gaming eSports athlete with Redbull, the brand ambassador of Astro Gaming, and partner with Twitch and YouTube — launched 100 Thieves in 2017.
“The most important lesson I’ve learned going from gaming to leadership is ‘over-communicate, over-communicate, over-communicate’,” said Haag via TechCrunch while discussing what it was like switching to working solely to many people every day. “Making sure we’re all aligned on our goals for each day and each week and each month, to have an open and transparent environment, really builds a culture where everybody enjoys working with one another. Over-communication helps drive success.”
Some of 100 Thieves’ other notable co-owners include rapper and actor Drake, Quicken Loans founder and Cleveland Cavaliers owner Dan Gilbert, and entrepreneur/music manager Scooter Braun.
100 Thieves generates revenue in three ways: esports competitions, content creation via Twitch and YouTube, and apparel. Some of the streamers that work with 100 Thieves on the competitions include Jack “Courage” Dunlop and Rachell “Valkyrae” Hofstetter.
100 Thieves is also building out a new 15,000 square-foot headquarters facility in Los Angeles that houses the esports, content creation, and apparel divisions. The headquarters will include streaming stations, a content production sound stage for the 100 Thieves podcasts. And it will also have a storefront for the 100 Thieves apparel lines.
