Fnatic announce $19 million Series A funding round

Esports organisation, Fnatic has announced a $19 million Series A funding round, which includes a number of new leadership changes.

The funding round was led by tech entrepreneur Lev Leviev of LVL1 Group and sees investors including transatlantic VC firm Beringea, BlackPine, Unbound and Joi Ito.

Lead investor, Lev Leviev said:

“Esports is the future of entertainment as well as one of the most dynamic and exciting emerging industries out there. 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.”

With this investment, Fnatic will continue its global expansion by strengthening involvement in tier-one esports leagues, including the League of Legends European Championships. Currently, Fnatic has esports teams in League of Legends, Counter-Strike, Dota 2, Fortnite, and more.

Fnatic’s esports teams have claimed multiple international championships since its inception in 2004, including the inaugural League of Legends World Championship, seven EU LCS Championships and three separate CS:GO Majors.

It has also been confirmed that Fnatic will launch new product categories in its esports equipment subsidiary, Fnatic Gear, which will include a new audio line. Additionally, the investment will be used to structure the company for further expansion into Asia and North America, as well as help them to continue to partner with global brands.

To support the funding round a new leadership team has been appointed. Former Mercedes AMG F1 Chief Executive Officer, Nick Fry has been named Chairman and founder of Affectv, Glen Calvert is appointed as COO. Elsewhere, Fnatic’s founder, Sam Mathews, is set to retake the CEO position.

Sam Mathews, commented on his new position:

“This is a pivotal moment in the evolution of Fnatic. I am incredibly proud of what we’ve achieved over the past 15 years and now is the time to build on this strong foundation to realise our vision of being the leading global esports brand. To have such high caliber investors is telling of the potential they see in Fnatic and our future.”

All in all this new arrangement can only mean bigger and brighter things for the Fnatic family.