FaZe Clan Reveals $40 Million Series A Funding Round

FaZe Clan, one of the most renowned esports organizations in the industry, announced the details of its $40 million Series A round of funding on Friday. The deal will support player acquisitions and operations, as well as support brand expansion.

The news comes just after last week's announcement of the organization's partnership with Jimmy Iovine and NTWRK, who led the round.

Why The FaZe Clan Funding Matters

It's a massive move for FaZe Clan who attracted numerous investors throughout the entertainment industry. Some of them include award-winning rapper Pitbull, professional skateboarder Nyjah Huston and actor Chris O'Donnell.

"These influential investors recognize the cultural significance of FaZe Clan as well as the enormous business opportunities around our content, esports teams and apparel," said Lee Trink, CEO of FaZe Clan.

'Reshape The Future Of Sports And Entertainment'

"We have a hyper-engaged global audience and FaZe Clan is the most powerful lifestyle brand in all of gaming. This round of funding provides the capital to continue to reshape the future of sports and entertainment."

Nyjah Huston stated, "I'm stoked to partner with the homies at FaZe Clan. Pumped for the fans to see what we have in store—gonna be sick."

The prominent names attached to FaZe Clan promise to shift the landscape of the entertainment and esports industries. NTWRK previously acquired the direct-to-consumer product rights for the organization. The branding and cultural expansion is a powerful achievement.

Iovine spoke about the earlier investment in a release: "We're at the birth of a new disruptive entertainment genre. FaZe Clan is a very powerful pipeline into gaming culture and their cultural impact reminds me of the early days of 90s hip hop. The combined reach of FaZe Clan and NTWRK is going to be very powerful."

"NTWRK will without a doubt provide additional rocket fuel for FaZe to continue extending our brand and cultural influence worldwide," Greg Selkoe, President of FaZe Clan, also commented. "We are excited to be aligned with passionate, like-minded partners that will further contribute to our impact on entertainment and youth culture."

Image Courtesy Of FaZe Clan Facebook