Major League Gaming Raises $10 Million
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Professional video game league Major League Gaming has raised $10 million in its latest round of funding. The company, which has dominated the space since the shut down of the DirecTV-backed Championship Gaming Series two years ago, hosts live video game tournaments, which it broadcasts on its site. It also owns GameBattles, a popular site that lets video gamers find others to play against and keep track of their scores.
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The company is in the midst of a remake of its flagship Major League Gaming site. It redesigned it earlier this month and says it will soon be rolling out “extensive social networking and video capabilities.”
The new funding was led by Legion Enterprises, an investment firm started earlier this year by Major League Gaming co-founder Michael Sepso to fund companies aimed at the 16- to 24-year-old male demographic. Long-time backer Oak Investment Partners also participated in the financing.
The new funding brings Major League Gaming’s total backing to $52.5 million. The four-year-old company has used some of that money to fund a series of acquisitions over the years, including the purchases of GameBattles, gaming news site GotFrag, and, most recently, game tech firm Agora Games.
Posted In: Entertainment, Games, Media & Publishing, TV, Broadcast, Money, M&A & Venture Capital, Venture Capital, Social Media, Video, Companies
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