Cloud9, a US-based eSports franchise operator backed by video game developer FunPlus and talent and literary agency United Talent Agency (UTA), has raised $19.7m of a $25m round, according to a securities filing.
Cloud9 manages a range of eSports teams, having started out with the acquisition of Quantic Gaming, which focused on multiplayer online battle arena video game League of Legends, in 2013, before branching out into a variety of other games.
The company previously raised $2.8m in a November 2016 funding round, according to a regulatory filing.
Cloud9 revealed in March 2017 that it had secured several million dollars in a series A round, though it is unclear whether that was the November 2016 investment or a first tranche of the current round.
The series A round’s backers included FunPlus Ventures and UTA Ventures, the respective corporate venturing units for FunPlus and UTA, as well as assorted angel investors and professional sports players.
The company is unrelated to the similarly named Cloud9, a US-based collaboration tool developer that was acquired by e-commerce and internet company Amazon in July 2016.