North American based Esports organization Cloud9, has announced a fresh round of investments to the tune of $50 million, led by Valor Equity Partners. The new round of investment includes Glassdoor founder Robert Hohman, Reimagined Ventures, and TrueBridge Capital Partners. This new deal also puts Cloud9 on the Forbes list of the next billion-dollar startups for 2018, where they are currently the only Esports organization.
This latest round of investment is significantly larger than their previous amount raised last year, which saw the organization secure $25 million in preparation to purchase a spot in the inaugural season of the Overwatch League, as well as their franchised spot in the North American League of Legends Championship Scene.
With both of those major expenses now settled, the new funding will reportedly allow Cloud9 to take significant steps forward in 2019, though presently Cloud9 has not yet revealed where the funding will be allocated. One major ticket item however, is the planned training facility for both the Overwatch and League of Legends team to train, as both the Overwatch League and NA LCS are based out of Los Angeles.
Cloud9 has a proven track record of success in Esports this year alone, claiming the inaugural season of the Overwatch League, as well as reaching the top eight of the League of Legends World Championships, which is ongoing.
