eSports team Fnatic raises $7 million in new funding

We hear about financing rounds in other businesses like start ups and new companies, but eSports is quickly turning into the next big thing in sports. Now professional eSports team Fnatic have raised $7 million in funding that will be put to good use across many teams, competing in many games, in multiple countries across the world.

Fnatic is so big that it even opened its first retail location last year, but needs the injection of funds to continue spreading staff and infrastructure throughout the world.

The $7 million in new funding comes from a few interesting companies and people, with Boston Celtics owner Jim Pallotta along with The Raptor Group - the private investment firm owned by AS Roma president, as well as the CEO and founder of Fractal Design, the Swedish case and cooling giant. MIT Media Lab director Joi Ito, and Hersh Interactive Group also added to the funding round.

Fnatic founder Sam Matthews said: "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. 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".