×
You will be redirected back to your article in seconds

Diddy Helps High School Esports and PlayVS Secure $30.5 Million in Funding

High school esports league and platform PlayVS closed out its Series B funding round with $30.5 million from key investors including Adidas, Samsung, and even Sean “Diddy” Combs, according to a press release.

PlayVS brings esports to high school students, giving them access to competitions and even scholarships for university. As esports grows, so does the pool of interested investors. In its Series A funding round, PlayVS secured $15 million— an impressive figure which might have contributed to founder and CEO Delane Parnell’s inclusion in the Forbes’ 30 under 30. The young entrepreneur said he is “honored” by the contribution of the LA Dodgers for Series B funding.

The Series B funding was led by Elysian Park Ventures, which is the private investment firm of the Los Angeles Dodgers ownership group.

Tucker Kain, CFO of the LA Dodgers and managing partner of Elysian Park Ventures, commented on the major investment.

“We strive to be at the forefront of innovation in sports, and have been carefully searching for the right investment in esports,” said Kain. “With PlayVS, we have found a model that works, built on a powerful platform that delivers an unparalleled player experience and will have a profound impact on the future of youth sports across the country.”

In addition to funding, the esports league also secured major deals with Psyonix, the publisher of “Rocket League,” and Hi-Rez Studio, publisher of “SMITE,” a free-to-play MOBA.

These partnerships mean new competitions and opportunities for high school students, as explained by Parnell.

“One of the reasons we’re most excited about esports is accessibility,” Parnell said. “With this new round of funding and the addition of ‘Rocket League’ and ‘SMITE,’ we’re able to take another huge step forward as we open the pathway for more students to compete and be recognized in the burgeoning esports industry.”

The inaugural season for PlayVS will start Feb. 25, and students and schools can register on the PlayVS website until Feb. 8.

More Gaming

  • 'Bloodstained: Ritual of the Night' Has

    'Bloodstained: Ritual of the Night' Has Lots of Post-Launch DLC Planned

    “Bloodstained: Ritual of the Night,” the spiritual successor to Koji Igarashi’s Castlevania series, officially releases on Steam, GOG.com, PS4, and Xbox One on Jun. 18. It comes to Nintendo Switch a week later on Jun. 25. Publisher 505 Games has big plans for the side-scroller after its launch, and shared what downloadable content fans can [...]

  • Someone playing fortnite a computer gameVideo

    World Health Organization Making Final Decision on Gaming Disorder This Weekend

    The World Health Organization (WHO) is making its final decision on whether or not to classify video game addiction as a disorder on Saturday, May 25, a spokesperson told Variety. The 72nd World Health Assembly is currently underway in Geneva, Switzerland. It’s the decision-making body of the WHO, and it’s attended by delegations from member [...]

  • Nominees Announced for 2019 BitSummit Awards

    Nominees Announced for 2019 BitSummit Awards

    The Japan Independent Games Aggregate (JIGA) announced the nominees for the 2019 BitSummit Awards on Friday. BitSummit is an annual festival celebrating independent video games and developers based in Japan. Founded in 2012, it’s become Japan’s premier indie gaming event, drawing thousands of visitors each year. It takes place the weekend of Jun. 1 at [...]

  • League of Legends Esports to Release

    League of Legends Esports to Release Premium Viewing Option

    League of Legends Esports has a new Pro View premium experience which will allow viewers to watch esports matches from the individual pro players’ perspective, the company announced Friday. The Pro View Package will be available for the Summer Split of the League Championship Series (LCS) as well as the League European Championship (LEC). In [...]

  • Microsoft's Project xCloud Rollout Hits 13

    Microsoft's Project xCloud Rollout Hits 13 Regions, Capcom, Paradox Testing

    Microsoft’s take on cloud-gaming — an approach to game development and deployment that theoretically makes games playable on any system without the need for porting — continues its rollout, with the company on Friday detailing work they’re doing with developers Capcom and Paradox Interactive. Project xCloud now has custom server blades at Azue datacenters in [...]

  • 'Sonic the Hedgehog' Pushed Back Due

    'Sonic the Hedgehog' Movie Pushed Back to 2020 Due to Character Design Changes

    Paramount Pictures is pushing its “Sonic the Hedgehog” movie back three months, from Nov. 8 to Valentine’s Day. The delay follows fan criticism over the appearance and design of the titular blue hedgehog — particularly his teeth and lean legs. Director Jeff Fowler tweeted that it was “taking a little more time to make Sonic [...]

  • 'Mortal Kombat 11,' 'League of Legends'

    'Mortal Kombat 11,' 'League of Legends' Dominate Global Digital Games

    The world’s top-earning digital games for last month include “Mortal Kombat 11,” “League of Legends,” and “Fortnite Battle Royale,” according to a report from SuperData released Tuesday. The ranking of top grossing games for the month of April 2019 is split into three groups: PC, console, and mobile. The massively popular “League of Legends,” a [...]

More From Our Brands

Access exclusive content