Berlin-based esports organization G2 Esports today announced a $17.3 million fundraising round. According to a press release, the money will be used to accelerate G2 Esports’ global expansion, fund franchise fees to join leagues, and further invest in its own content operations.
The round was led by three firms: Everblue Management, Parkwood Corporation, and Seal Rock Partners. YuChiang Cheng, the president of Topgolf Media also contributed. The round brings G2 Esports’ total outside funding to $24.6 million since the organization was founded in 2014. With the new funding, G2 also has plans to expand into new content-related ventures such as comic books or a subscription-based fan app, according to Forbes.
“After an incredibly successful 2018 where we positioned ourselves as one of the leading entertainment assets in esports, G2 is doubling down on international growth, and continuing our investment in world-class content creation,” said G2 Esports CEO and co-founder Carlos “ocelote” Rodriguez, in the press release.
G2 Esports fields teams in popular gaming titles such as League of Legends, Counter-Strike: Global Offensive, Hearthstone, Fortnite, Rainbow Six Siege, Rocket League, and Clash Royale. With a total valuation estimated at $105 million, Forbes ranked G2 Esports as the world’s eighth most valuable esports company in 2018.
SportTechie Takeaway
G2 released a Fortnite-based reality series called Making The Squad on Twitch and YouTube this past year. Since content creation is a focus behind this fundraising round, Making The Squad could be an example of the type of documentary-style features G2 may now produce.