Popular esports organization 100 Thieves have announced that they have raised $35 million in Series B funding and purchased a brand new headquarters and retail storefront located in Los Angeles, California.
100 Thieves are one of the biggest esports organizations in the world, with teams competing in Fortnite, League of Legends, and Call of Duty, alongside their impressive apparel arm, which produces streetwear-inspired clothing that regularly sells out minutes after release.
Now, 100T have announced that they are continuing their rapid expansion, bringing on Artist Capital Management chief Josh Dienstag as a member of their Board of Directors after leading a $35 million Series B funding round.
In a video uploaded to the 100 Thieves YouTube channel, CEO Matt ‘Nadeshot’ Haag and COO John Robinson confirmed that they had used some of the funding to purchase a new 15,000ft Los Angeles headquarters.
The new headquarters will be home to all of 100 Thieves' business ventures, and will also house their competitive teams, with Robinson stating that the plan “is to bring everyone under one roof.”
100 Thieves also intend to design all their apparel from the new headquarters, and state that it will “serve as a retail storefront for the brand’s upcoming drops,” although there was no mention as to when we would see new clothes from the company.
The funds will also go towards 100 Thieves’ expansion plans, with Nadeshot confirming that they intend to branch into a number of new esports titles throughout the next year, with reports from June suggesting that 100T were aggressively seeking funding as they tried to secure a spot in Call of Duty’s franchised league.
The value of 100 Thieves has skyrocketed in the past year, with reports suggesting that the company is now worth $125 million, a jump of $35 million from its October 2018 valuation.
The organization already has some big-name investors behind it, with music producer Scooter Braun and rapper Drake joining the company’s Board of Directors back in October.