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On Thursday, Esports organization and lifestyle brand 100 Thieves announced that they raised $6o million in Series C funding. This is the most money raised in series funding to date and brings the valuation of 100 Thieves to $460 million after three separate rounds of funding.
“I’m incredibly excited about the valuation but it doesn’t stop here,” 100 Thieves CEO Matthew “Nadeshot” Haag told Forbes. “Valuation is one thing, but delivering results in the future for our investors and our community and our board members is the No. 1 goal. We really just want to build the most inclusive gaming brand that the world has ever seen. I think we’re well on our way to doing that.”
Two years ago, 100 Thieves had a valuation of $160 million after their Series B funding, which raised $35 million from various investors. The continued growth in funding follows the pacing of the growth from the company itself. 100 Thieves currently compete in VALORANT, Apex Legends, Fortnite, League of Legends and Call of Duty. Outside of their various competitive titles, 100 Thieves also have several streamers and content creators across these various titles.
100 Thieves continue to expand
Since founding the company in 2018, Nadeshot has brought in several highly valued investors to the team. Some of the more co-owners include Dan Gilbert, owner of the Cleveland Cavaliers; popular rapper and actor Drake; and media proprietor Scooter Braun. Outside of millions gained from these powerful investors, 100 Thieves have also partnered with companies such as Cash App, Dollar Shave Club and Rockstar Energy.
“The traditional answer from other competitors was they wanted to be the Yankees for video games,” 100 Thieves COO John Robinson shared with Forbes. “When I met Nadeshot, his ambitions were so much larger and the idea of what 100 Thieves could be was so different. It was the three core businesses of apparel, esports and entertainment. I thought that was tremendously compelling and differentiated from everything else that was happening in the gaming landscape.”
100 Thieves have built up their reputation in the esports world by earning trophies in League of Legends, Call of Duty, Fortnite and VALORANT, while also cementing themselves in the streetwear world with their various collections of apparel. Now with a valuation of $460 million, 100 Thieves will be continue breaking molds in the esports industry.
Danny Appleford is an esports journalist for Upcomer that started writing for Daily Esports in 2020. He now specializes in articles surrounding League of Legends, Call of Duty, VALORANT and Halo.