US-based esports services provider Nerd Street Gamers , secured $11.5m yesterday in a funding round featuring youth-oriented retailer Five Below and mass media group Comcast.
The round was led by venture capital firm Founders Fund and also backed by sports technology-focused VC fund SeventySix Capital, VC firm Elevate Capital and private investor George Miller.
Founded in 2017, Nerd Street operates a chain of esports and gaming centres under the Localhosts brand in addition to managing online esports tournaments and offering coaching for competitive gaming.
Although several of its Localhosts outlets have been closed in recent months due to the coronavirus pandemic, Nerd Street is preparing to open facilities in the cities of Los Angeles and Philadelphia and is collaborating with Five Below on new centres.
The company said it has now raised $25m altogether. It closed a $12m series A round led by Five Below that also featured Comcast’s Spectacor subsidiary, SeventySix Capital, Elevate Capital and George Miller, in late 2019.
