Drake’s e-sports company raises $35M in funding to open LA headquarters

July 16, 2019
100 Thieves
Photo via 100 thieves

The game is just getting started for 100 Thieves, but the e-sports startup isn’t wasting any time.

Since launching in 2017, the LA-based company co-owned by global recording superstar Drake has become a force in gaming, winning championships in Call of Duty and competing in major tournaments for League of Legends and Fortnite, while also launching a fashion line and two gaming podcasts.

Now, 100 Thieves has captured $35 million in Series B funding to fuel its rapid growth. 

We now have everything we need to be the biggest gaming and esports brand in the world.”

The round seals a successful year in business for the company, said Matthew Haag, 100 Thieves’ CEO and founder, in a statement.

“This past year has been a massive success for 100 Thieves,” Haag said. “Our e-sports teams are winning championships, our apparel is selling out and our podcasts have topped the charts.” 

The company announced the round today along with plans to move into a 15,000 square foot office in Los Angeles. The new headquarters will feature e-sports practice facilities, streaming stations, a content production soundstage and an apparel development workshop. It will also serve as a retail storefront for its apparel line, according to the company.

Artist Capital Management led the round, along with participation from Aglaé Venutures and Groupe Arnaul among others. Artist Capital’s Chief Investment Officer, Josh Dienstag, will also join the company’s board as part of the round. Hundred Thieves’ multi-faceted approach has helped it stand out from the growing crowd of e-sports companies in LA, Dienstag said in a statement.

“As long-term investors, we believe that 100 Thieves has a differentiated approach to e-sports and gaming,” Dienstag said. “100 Thieves has a visionary founder, a best-in-class management team, and premier strategic shareholders. We are very excited to support 100 Thieves with the growth capital they need to see their vision through.”

Former Call of Duty world champion and YouTuber Matthew “Nadeshot” Haag founded 100 Thieves in 2017, along with co-owner Dan Gilbert, who also happens to own the Cleveland Cavaliers. The company made headlines a year later when casual Fortnite player, Drake, decided to try his hand at co-owning the company along with SB Projects founder Scooter Braun.

Aside from fielding a competitive e-sports team, Haag dropped a limited-edition fashion line that sold out within five minutes and netted over $500,000 in revenue. In May of this year, he launched two podcasts called The CouRage & Nadeshot Show and Selfmade with NadeShot.

With the new capital, 100 Thieves said it aims to expand its competitive e-sports teams, apparel line and gaming entertainment content. In the eyes of Haag, the company’s assent to the top of the e-sports industry is just getting started.  

“We now have everything we need to be the biggest gaming and e-sports brand in the world,” Haag said in a statement. 

Los Angeles startup guides

Best Companies to Work for in Los Angeles
Best Software Engineer Jobs in Los Angeles
Coolest Tech Offices in Los Angeles
Best Sales Jobs in Los Angeles