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Esports firm Cloud9 raises $25m in latest funding round

Investors include WWE, Beverly Hills Sports Council, Washington Wizards owner and more

Cloud9 has confirmed it raised a further $25m in its recent Series A financing round, which will enable it to expand its esports activities in North America.

In a statement, Cloud9 owner Jack Etienne said the funds will be used to expand its esports leagues, improve its training facilities and housing and "[take] the entire organisation to the next level."

Among this round's investors were wrestling association WWE, Beverly Hills Sports Council, Founders Fund, Raul Fernandez (owner of ice hockey and basketball teams Washington Capitals and Wizards), Creative Artist Agency co-founder Michael Ovitz, and more.

Cloud9 also gains new board members following the funding round. Brian Singerman, a partner at Founders Fund, will join as a full member, while WWE and San Francisco Giants star Hunter Pence will become Board Observers.

Cloud9 was founded in 2013, and owns teams and players across multiple popular esports, including League of Legends, Overwatch, CS:GO, PUBG and Rocket League.

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