Major League Gaming raises $13M for live game tournaments

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Major League Gaming has raised $13 million for its business of running video game tournaments played through the web and at live events.

The company hasn’t announced the news yet, but it indicated it was raising the $13 million round in a filing with the Securities and Exchange Commission. So far, it has raised $11.3 million of the total. The deal shows that funding for games is hot and MLG has been able to use its momentum to amass a big audience in the live gaming market.

MLG is the major competitive gaming tournament organizer with tens of millions of gamers participating in its tournaments. It holds more than 750,000 matches each month in online battles. And its live in-person Pro Circuit tournaments are held in cities across the country. The tournaments are streamed to hundreds of thousands of fans in 170 countries.

The filing lists relevant parties: Sundance DiGiovanni, founder; Jarratt Brown; Michael Sepso; Edward Glassmeyer; John Kermath; and Harlan Stone.

Over the last ten years, MLG has set out to create a global, cross-platform competitive gaming business. Over time, the company has acquired business such as Gamebattles and Agora Games, both aimed at building big communities around online games. It previously raised $10 million from Legion Enterprises. Total funding before this deal was $52.5 million.

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[Photo credit: MLG]