Immortals raise $26m after departing Call of Duty League
Tina Jo/Riot GamesImmortals Gaming Club have raised $26 million in Series B-1 funding following the sale of their Call of Duty League franchise.
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The company owns and operates Immortals, Brazilian brand MIBR, Overwatch League franchise Los Angeles Valiant, and Counter-Strike platform Gamers Club.
The investment was raised to “fuel ongoing growth of the company’s core,” which is mainly their team brands.
Meg Whitman, a board member and existing investor, led the funding round. She previously served as the CEO of eBay, Quibi, and Hewlett Packard (HP) Enterprise.
MIBRImmortals Gaming Club just sold one of their flagship brands, OpTic Gaming Los Angeles. The Call of Duty League franchise slot has been acquired by 100 Thieves and rebranded as the Los Angeles Thieves, while the OpTic brand is expected to now be owned by Hector ‘H3CZ’ Rodriguez.
“IGC is focused on investing aggressively in growth in competitive gaming, inclusive of our platform, non-team assets such as Gamers Club, and our core team brands Immortals and MIBR,” said Ari Segal, CEO of Immortals Gaming Club.
“We’ve enjoyed strong growth in our non-team asset portfolio and are excited to leverage a strong balance sheet and focus our energy, time, capital, and other resources on these aspects of the business, as well as current and future esports team assets that authentically serve and deliver for gaming communities around the world.”
LA ThievesImmortals Gaming Club acquired the OpTic Gaming brand when they purchased Infinite Esports & Entertainment in June 2019.
They also obtained Overwatch League brand Houston Outlaws, which was later sold to Beasley Media Group.
On selling their Call of Duty League slot to 100 Thieves, IGC board member Steve Cohen said: “IGC’s vertical integration and multi-pronged approach to brand building affords us the ability to repeatedly check our performance and impact in the market in real time.”