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E-Sports Brand 100 Thieves Closes Funding Round Led By Drake, Scooter Braun

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E-Sports Brand 100 Thieves Closes Funding Round Led By Drake, Scooter Braun

100 Thieves, a top esports company, has announced the completion of a Series A funding round, according to Forbes.

What Happened

The Series A funding round for 100 Thieves — one of the fastest-growing brands in the esports industry — now has $25 million in funding after the Series A round, which was co-led by SB Projects completed a Series A funding round co-led by Drake and SB Projects founder Scooter Braun, who became co-owners of the company.

Founded by former professional gamer Matt “Nadeshot” Haag, 100 Thieves initially closed a multimillion-dollar investment from Quicken Loans Chairman Dan Gilbert in 2017, and was one of the earliest esports teams to enter the 'Fortnite' competitive scene.

Why It Matters

While several esports brands are starting to pivot toward becoming a lifestyle brand, 100 Thieves started as one.

“He has a clear vision for where esports is going and how to build an amazing brand within it, and that’s why I wanted to bet on him and 100 Thieves,” Scooter Braun said of Haag, according to Forbes.

What's Next

100 Thieves is expected to use the funding to build its content team, acquire new talent and expand its apparel line, where Drake will certainly help give exposure.

The brand's first four apparel releases sold out in less than 20 minutes.

With Drake and Braun advising on the entertainment side and Gilbert on the sports side, 100 Thieves President John Robinson said the company has “put together a dream team of collaborators," according to Forbes.

Related Links:

7 Crazy 'Fortnite' Stats — And How Virtual Fashion Is Driving In-Game Purchases

How Video Game Developers Are Taking On 'Fortnite' — And Why KeyBanc Remains Bullish

Posted-In: 100 Thieves Dan Gilbert DrakeNews Financing Sports Media General Best of Benzinga

 

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