100 Thieves has announced that it has raised an additional $60 million in financing, closing its Series C. The Series C was led by Green Bay Ventures with further support from existing and new investors including Breyer Capital, Aglae Ventures, Tao Capital, Willoughby Capital, and Artist Capital Management. This new round of financing has raised the valuation of the organization to $460 million USD.
The 100 Thieves business experienced record growth in 2021, in both overall revenue and percentage increase, since the company was founded just four years ago. Revenue in 2021 more than doubled year-over-year, seeing 111 per cent top-line growth, making 100 Thieves the fastest growing company amongst top gaming organisations. The $60M raised from the Series C will support the rapid growth of 100 Thieves core esports, entertainment, and apparel businesses, as well as the launch of new businesses and strategic acquisitions.
“Our performance in 2021 exceeded all of my expectations. We have delivered on our core promise of elevating gaming culture while building a strong business and brand for the long term. 100 Thieves now has the capital to launch and acquire new companies that I know our community will love,” said 100 Thieves founder and CEO Matthew “Nadeshot” Haag.
Since its inception in November 2017, 100 Thieves has built a community of over 100 million fans who support its championship esports teams, proudly wear its innovative apparel, and follow its streamers and content creators. Most recently the company made its first-ever acquisition of Higround, a technology hardware company specialising in design-forward gaming keyboards and peripherals. Higround is a glimpse into the future of the 100 Thieves’ business as it evolves into a collection of brands built for its community that pushes gaming culture forward.
“100 Thieves has proven time and again over the past four years that it’s unlike any other company in gaming, sports, or entertainment. Their ambitious vision and ability to execute gave us the conviction that 100 Thieves is going to be the most important company in gaming culture over the next decade,” said Green Bay Ventures MD Anthony Schiller.
This year, 100 Thieves won major esports championships in both League of Legends and Valorant and was named “Esports Organisation of the Year” at the Esports Awards on 20 November 2021. The brand also took major steps forward in its apparel business with the debut of the always-available, premium Foundations line, followed closely by its collaboration with Italian luxury brand Gucci.
Co-owned by gaming superstars Nadeshot, Valkyrae and CourageJD, the organisation also added stars Fuslie, Kyedae, TinaKitten, Austin and 2HYPE to its lineup of content creators; while also breaking one million followers on Instagram, Twitter, YouTube and TikTok.
“This new round of funding is validation from our investors and community that we’ve exceeded expectations and accomplished what we promised in esports, content, and apparel. Now we’re excited to use this growth capital to build the next chapter of 100 Thieves because we’re just getting started,” said 100 Thieves president and COO John Robinson.