- Fnatic has announced a $19M USD Series A funding round led by board member and entrepreneur, Lev Leviev.
- The team has also made leadership changes, including appointing founder and former chairman Sam Mathews as CEO.
- Fnatic will use the capital to fund international expansion and marketing efforts, renew its focus on top-tier leagues, and expand its Fnatic Gear equipment line.
Fnatic has raised a $19M Series A funding round, the organization announced today, with leadership changes taking place alongside the infusion of capital.
Entrepreneur Lev Leviev of LVL1 Group led the funding round, with additional investors including Beringea, Blackpine, Unbound, and Joi Ito. Fnatic plans to use the funding to “strengthen involvement in tier-one leagues,” according to a release, including its spot in the League of Legends European Championship (LEC).
The team will also expand its Fnatic Gear esports equipment line with new audio products, enhance its international marketing efforts for partnered brands, and structure the company for further growth into North America and Asia. Fnatic previously raised a $7M funding round in April 2017.
“Esports is the future of entertainment, as well as one of the most dynamic and exciting emerging industries out there,” said Fnatic board member Leviev, in a release. “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.”
Categorized in: Esports News