Cloud 9 have obtained major investment in their Series A financing round
Cloud 9 has publicly announced they have secured extremely strong financial backing from some of the biggest names in sports and esports. These major investors include FunPlus Ventures, United Talent Agency, Reddit co-founder Alexis Ohanian, NFL hall of famer Joe Montana and Golden State Warrior owner Chamath Palihapitiya to name a few. In Cloud 9’s previous finance raising round, they had obtained 2.8 million dollars of investment, but this series A round which involves some major individuals is likely in the excess of many millions.
Normally investment are used to either keep the business afloat or to expand the business, and it is obvious what Cloud 9 going to be using the money for. They have also stated in a press release that the investment is hoping to be used for maintaining the quality of their players while they expand. This additional capital allows cloud 9 to sign the best, while growing their organization into the biggest name in esports.