×

Esports Startup Cloud9 Raises $25 Million From WWE, Others

Cloud9 has closed $25 million in Series A funding from WWE and others, as the eSports team and player management startup looks to expand team development and broaden across multiple leagues.

Investors in the round include WWE; the Beverly Hills Sports Council; Raul Fernandez, co-owner of the Washington Capitals and Wizards; San Francisco Giants outfielder Hunter Pence; CAA co-founder Michael Ovitz; Founders Fund; and tech investors David Sacks and Bill Lee. As part of the funding, Founders Fund partner Brian Singerman joins the Cloud9 board and WWE and Hunter Pence will become board observers.

Cloud9 had raised $3 million in seed funding earlier this year. The L.A.-based company was founded in 2013 by Jack and Paullie Etienne, who are married.

Cloud9 manages teams and players for multiple eSports titles including “League of Legends,” “Overwatch,” “PlayerUnknown’s Battleground,” “Counter-Strike: Global Offensive,” “Hearthstone,” “Super Smash Bros.,” “Rocket League” and “Vainglory.”

This summer, Cloud9 purchased the London franchise for Blizzard Entertainment’s Overwatch League, which is set to commence its inaugural season by the end of the year.

“We will now invest in expanding across leagues, outfitting our training facilities and housing, and taking the entire organization to the next level,” Cloud9 owner Jack Etienne said in a statement.

George Barrios, WWE’s CFO and chief strategy officer, commented, “At WWE, we are constantly looking to innovate through our venture portfolio, and eSports is particularly exciting to us. We believe Jack and the team at Cloud9, with their vision, enthusiasm and ability to execute, are the right partners.”

Pictured above: Cloud9’s Jack Etienne (left)

More Digital

  • Asian Streamer Iflix Completes $50 Million

    Asian Streamer Iflix Completes $50 Million Fund Raising

    Asia-based streaming firm Iflix has completed its latest funding round by bringing in major institutional investor Fidelity. The company says it is now looking towards an IPO. Iflix, which has operations across 12 countries in Asia, says that the funding cycle brought in “well in excess of $50 million,” but provided few new details. Other [...]

  • Once Upon a Time in Hollywood

    ‘Once Upon a Time in Hollywood’ Tops Studios’ TV Ad Spending

    In this week’s edition of the Variety Movie Commercial Tracker, powered by the always-on TV ad measurement and attribution company iSpot.tv, Columbia Pictures claims the top spot in spending with “Once Upon a Time in Hollywood.” Ads placed for the drama had an estimated media value of $5.71 million through Sunday for 997 national ad [...]

  • Department of Justice

    DOJ Announces Antitrust Review of Tech Giants

    In a move that could potentially disrupt Silicon Valley’s biggest companies, the U.S. Justice Department announced that its antitrust division opened a review into “whether and how market-leading online platforms have achieved market power.” The DOJ, in its announcement Tuesday, didn’t identify which companies it is looking into as part of the investigation. Facebook, Amazon, Google [...]

  • Snap Inc

    Snap Stock Skyrockets as Company Adds 13 Million Daily Active Users in Q2

    Share prices for Snapchat’s corporate parent Snap Inc. shot up as much as 13% in after-hours trading Tuesday on news that Snapchat added 13 million daily active users in Q2 of 2019. The service ended the quarter with 203 million users, compared to 190 million at the end of Q1, and 188 million in Q2 [...]

  • jbl link bar

    JBL Finally Releases Its Android TV-powered Smart Sound Bar

    Over a year after first announcing it, Samsung subsidiary Harman is finally releasing its JBL Link Bar, a smart sound bar that comes with Android TV built-in. The new device effectively doubles as a smart speaker, and does away with the need for any additional streaming devices. Google and Harman / JBL first announced the [...]

  • Inverse-BDG

    Bustle Digital Buys Digital-Media Startup Inverse, Its Eighth Acquisition to Date

    Bustle Digital Group, continuing its strategy of snapping up smaller digital-media players, has acquired Inverse, geared toward an young-male audience with content about science, tech and culture. Terms of the deal weren’t disclosed. BDG founder and CEO Bryan Goldberg is well-acquainted with Inverse, which was founded in 2015 by CEO Dave Nemetz — who previously [...]

  • Pandora voice mode

    Pandora Launches Voice Mode for Everyone

    After first launching a limited beta earlier this year, Pandora opened up its mobile voice control to all of its iOS and Android users Tuesday. The new feature allows users to ask for songs, albums, playlists, stations, and even soundtracks for activities or times of day, with simple voice commands. Pandora’s voice mode is similar [...]

More From Our Brands

Access exclusive content