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Cloud9 closing in on $25 million investment

Cloud9 is close to raising $25 million in investment.
Cloud9 is close to raising $25 million in investment.

Cloud9 is close to finalizing a $25 million funding round, according to documents filed Wednesday with the Securities Exchange Commission.

No further information regarding the source of the investment was available via the filings. One interesting note is that Brian Singerman, partner at Founders Fund (which was included in Cloud9’s last round of funding in March) is now listed as a director, as was Yingwu Zhong, the CEO of FunPlus, which was also part of Cloud9’s last investment. Zhong replaced Dan Fiden, also of FunPlus, who was listed on the organization’s last SEC filing in November.

 

Cloud9 recently joined Overwatch League, which cost a reported $20 million for an entry slot. It is also in the application process for returning to the North American League of Legends Championship Series (NA LCS), with an entry fee of $10 million.

After Cloud9 announced a $3 million funding round in November, the organization announced in March another funding round from a group of investors including San Francisco Giants outfielder Hunter Pence, Tesla board members Antonio Gracias and Kimbal Musk, Reddit co-founder Alexis Ohanian, LA Dodgers co-owner Todd Boehly and Hall of Fame quarterback Joe Montana.

 

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