Fnatic Receives Multi Million Dollar Financial Backing

by Matt Best

(Photo: League of Legends)

Fnatic continues to grow their organization in 2017. This year had already brought major infrastructure changes to their League of Legends team with the addition of Fnatic Academy, a EU CS team that works hand in hand with the LCS team. The team also promised infrastructure in terms of more staffing and more support. It looks like they're about to get even stronger after their latest announcement. 

"Fnatic, a global esports franchise and lifestyle brand, has closed a financing round of over $7 million with investors including Jim Pallotta’s Raptor Group, Owners of AS Roma and the Boston Celtics; Joi Ito, Director of the MIT Media Lab; Hannes Wallin, CEO and Founder of Fractal Design; and the Hersh Interactive Group."

The press release states that the funding will help push along Fnatic's infrastructure and help fund the hiring of staff members such as coaches, analysts, sports psychologists, further facilities, and academy teams.

"There has been strong growth in esports, which has accelerated in recent years, but the major shift has been in the acceptance and inclusion by sports franchises, media companies and high profile individuals who have entered and advanced the industry rapidly," said Sam Matthew, Founder of Fnatic. "We’re incredibly excited by the opportunities available within esports, and having world class investors and advisors only enhances our ability to address these opportunities and continue to innovate."

According to Chris Pallota, the Fnatic Director and Raptor Group Investment Officer, the move helps put Fnatic on the map as an example for other teams and organizations to follow. "Fnatic is at the forefront of advancing esports, constantly deploying innovative forms of engagement and monetization that we believe will transform the overall sports and entertainment industry over time."

Fnatic is currently submerged in the Call of Duty franchise, Heroes of the Storm, League of Legends, Counter-Strike: Global Offensive, Overwatch, Dota 2, FIFA, and Vainglory. The funding received is only positive for the organization as they look to become one of the most dominant organizations from an infrastructure standpoint. Giving the players the tools necessary to succeed will give them an advantage over other organizations who don't have the backing and support.

Need more League of Legends in your life? Tune into The Invade, WWG’s League of Legends show that breaks down the latest trends in the esports world. Hosted by Matt Best, The Invade boasts Team and Player Rankings as well as featured guests from around the League of Legends Community. Catch The Invade Wednesdays at 3:00 PM ET over at www.twitch.tv/wwg!

By Matt Best

Matt Best is the Lead On Air Host and Producer for WWG. He has spent his professional career submerged in both the traditional sports world as well as esports. As one of the only Canadians at WWG, if you want to tilt Matt, just bring up awful Canadian stereotypes.