Esports org 100 Thieves raises $35 million in Series B
100 Thieves has today announced the close of a $35 million Series B funding round. Artist Capital Management led the round, with ACM’s Chief Investment Officer Josh Dienstag joining Mike Sepso, MLG cofounder, on the board of directors. Group Arnault, the investment arm of LVMH, also participated in the round.
CEO and founder Matthew “Nadeshot” Haag confirmed to TechCrunch that this latest round brings 100 Thieves’ post-funding valuation to $160 million, which is up from the $90 million valuation it had in October 2018.
100 Thieves was founded in 2017. Haag is a former pro gamer and content creator with one of the biggest followings in esports.
“The most important lesson I’ve learned going from gaming to leadership is ‘over-communicate, over-communicate, over-communicate’,” said Haag, explaining that he went from working by himself creating content to working with many people each 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.”
The org has investment from Drake, Dan Gilbert, and Scooter Braun. 100 Theives has three revenue channels.
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