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100 Thieves, gaming brand and lifestyle company, announced that it has received $60 million in Series C funding.
The new round of funding, led by Green Bay Ventures, brings the company’s valuation up to $460 million. The company previously raised $35 million in a Series B funding it received in 2019.
Founded in late 2017, 100 Thieves has performed well in its core businesses of apparel, esports, and entertainment. From 20 people at inception, the company now has over 100 employees and recently acquired Higround, a gaming hardware company.
“Our performance in 2021 exceeded all of my expectations,” said Matthew “Nadeshot” Haag, founder and CEO of 100 Thieves, in a statement. “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.”
100 Thieves expanding business via money instead of … thievery
“Revenue in 2021 more than doubled year-over-year, seeing 111% top-line growth, making 100 Thieves the fastest growing company amongst top gaming organizations,” said John Robinson, president and chief operating officer, in a statement.
With this new round of funding, the company plans on expanding its business even further.
“The Higround acquisition is illustrative of the types of expansion opportunities we see for 100 Thieves,” Robinson continued. “We expect to earmark a significant portion of the Series C raise for additional acquisitions and launching new businesses to help us expand beyond our core businesses.”
The company sees this new capital as a sign it has its investors favor.
“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,” said Robinson. “Now we’re excited to use this growth capital to build the next chapter of 100 Thieves because we’re just getting started.”
Other investors included Breyer Capital, Aglae Ventures, Tao Capital, Willoughby Capital, and Artist Capital.
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