Cloud9 has acquired $2.8 million from unidentified investors. According to the November 23 U.S.Securities and Exchange Commission report by Cloud9 Esports, Inc, the organization have sold $2.8 million in equity of the $3 million their seeking to raise. The equity is from unnamed investors.
The filing under Form D allows Cloud9 to request the SEC to not disclose more details about the investment round. Startups traditionally do this to exclude the names of early investors and details that they don’t want initially public.
The form reveals that the offering began on November 11, and that the organization has brought on 21 separate investors. The form doesn’t provide any information on the equity provided for the investment, and if the investor(s) will have a controlling stake in the company.
I round comes after Blizzard’s announcement during Blizzcon that organizations are required to bid for a permanent membership in the Overwatch League, which has sparked interest from a wide range of big-name investors. Sports teams have started to contract players, and invest heavily in acquiring a spot for The Overwatch League.
Two leading North American organizations, Team Dignitas and Team Liquid, have received substantial backing from sports investors, including the Philadelphia 76ers purchasing Team Dignitas and Apex in September. Axiomatic Esports, who owns a stake in Golden State Warriors, purchased a controlling interest in Team Liquid.
Cloud9 currently has teams in Overwatch, Counter-Strike, League of Legends, Super Smash Bros, Hearthstone, Call of Duty, and Vainglory.