Esports infrastructure and event organization Nerd Street Gamers has raised $ 11.5 million in additional funding, led by San Francisco-based venture capital firm Founders Fund. This funding is intended to expand its digital sports platform that has been successful so far during the pandemic, while its e-sports facilities have been closed. Previously, they raised $ 12 million in an effort to build esports facilities that will host leagues, training grounds, tournaments and exhibitions.
Nerd Street Gamers CEO John Fazio commented on the deal in an article with Esports Insider: “The addition of Nerd Street to the Founders Fund’s portfolio of industry pioneering organizations is one of our greatest honors to date. Within minutes of meeting Brian, it was clear that he was deeply aligned with our vision and mission. Supporting us during the uncertainty of a global pandemic is a testament to Brian’s bold foresight and an incredible validation for our entire team. “
The pandemic has caused Nerd Street to shut down their Localhost facilities, but they quickly adapted to a digital platform through online tournaments, training, camps, and Nerd Street +, their subscription service. Nerd Street hosts events for various games, but they have made the most noise with their participation in the Valorant tournaments, specifically being selected to operate the first leg of the Valorant Champions Tour, and their recently completed Valorant Winter Championship Tournament that saw it coming. to Luminosity Gaming. on top.
Thanks to its successful switch to a digital platform during the pandemic and the closure of facilities, Nerd Street was able to increase its membership by more than 200% since 2019. And in the last year its Twitch channel, which broadcasts its tournaments live, recorded 4,000 The% increases in minutes viewed and its followers go from 13,000 to more than 120,000.
Venture Beat caught up with Fazio regarding the closure of their Localhost facility and their move to a digital platform: “An important way to address the current climate is through our new digital subscription service. Because we had to close our physical locations during the pandemic, we are really seeing now more than ever the severe technology access gap for youth across the country to engage in remote learning, let alone gaming, because to the fault. internet access at home. To address this, Nerd Street Gamers recently announced a subscription service that ensures students and gamers have affordable access to the technology necessary to participate in the incredible social opportunities that esports can provide despite the pandemic (and beyond. ) “.
With the general digital shift in gaming and esports, Nerd Street Gamers is uniquely positioned to capitalize on the opportunity and the Founders Fund clearly believes so. With this new funding, Nerd Street should be more than capable of continuing to expand their digital platform and consumer base, and once they can reopen their Localhost facilities, they will have two main sources of growth and income to build on.