Fnatic, a leading global esports brand, announced it has raised $19 million in Series A funding. This investment round was led by Lev Leviev of LVL1 Group. And it also includes continued support from several investors including Beringea, BlackPine, Unbound, and Joi Ito.
With this funding round, Fnatic is going to enter its next phase of global expansion and strengthen involvement in tier-one leagues like the League of Legends European Championships. Fnatic also has professional teams that play Counter-Strike, Dota 2, Fortnite, etc.
Plus Fnatic is going to launch new product categories in its esports equipment subsidiary such as a new audio line. And Fnatic is going to scale up resources to deliver and deploy marketing efforts. And it is going to reach for brands on an international scale.
Fnatic has also set up a new leadership team to support its continued growth. Former Mercedes AMG F1 CEO Nick Fry was named as chairman. And Affectv founder Glen Calvert was appointed as COO. Fnatic founder Sam Mathews is also retaking the CEO position as former CEO Wouter Sleijffers has stepped down.
“This is a pivotal moment in the evolution of Fnatic. I am incredibly proud of what we’ve achieved over the past 15 years and now is the time to build on this strong foundation to realize our vision of being the leading global esports brand. To have such high caliber investors is telling of the potential they see in Fnatic and our future,” said Mathews in a statement.
This round of funding will also be used for structuring the company for further expansion into Asia and North America, continuing to partner with global brands, and cementing its position as one of the leading lifestyle esports organizations globally.
“Esports is the future of entertainment as well as one of the most dynamic and exciting emerging industries out there. Fnatic has established itself as a driving force both on the competitive stage and as a global business in esports, I’m excited to be part of the next chapter as Fnatic scales into a global lifestyle brand,” added Leviev.
Fnatic is based in London, United Kingdom. And it has additional operational locations in Berlin, Belgrade, Los Angeles, Taipei, Shenzhen, and Kuala Lumpur.