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Major League Gaming gets $10m funding boost

Professional gaming league boasts 4.5 million customers and $52.5m total funding

US-based professional gaming organisation Major League Gaming (MLG) has closed $10 million in new financing, to be completed in the first quarter of 2011.

The investment came from private equity firm Legion Enterprises, which specialises in the 16-24 year old male demographic. Together with primary investor Oak Investment Partners, MLG's total funding now stands at $52.5 million.

MLG boasts of being the "dominant competitive videogame property" with approximately 4.5 million consumers each month online and live broadcasts that reach more than 600,000 unique viewers. The company recently launched a redesigned website at majorleaguegaming.com and plans to roll out new social networking and video features in the coming months.

"At MLG we are dedicated to providing our community with the ultimate competitive videogame experience both on and offline," said CEO and co-founder Sundance DiGiovanni.

"Over the last eight years we have set out to build competitive gaming into a global, cross-platform business and thanks to investments from companies like Legion Enterprises and Oak Investment Partners, that vision is well on its way to becoming a reality."