Esports company to expand product portfolio, monetise existing assets and hire new staff.
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- ReKTGlobal owns teams in League of Legends, FIFA, Fortnite, Call of Duty and Rocket League
- Esports organisation already counts NBA player Rudy Gobert and NFL safety Landon Collins as investors
ReKTGlobal, the parent company of League of Legends team Rogue and the Call of Duty League’s London Royal Ravens, has secured US$35 million in funding to support its business expansion.
The debt capital raise comes courtesy of investment firm Summit Partners, which oversees more than US$21 billion in total assets. According to Forbes, the fact that ReKTGlobal is one of only a few esports businesses to have turned a profit was a significant reason for the company investing.
ReKTGlobal will use the funding to expand its product offering, make additional executive hires and monetise its existing assets. As well as League of Legends and Call of Duty, its esports teams currently compete in the likes of FIFA, Fortnite, and Rocket League.
Prior to the capital injection from Summit Partners, ReKTGlobal had already secured a number of high-profile investors, including National Basketball Association (NBA) centre Rudy Gobert and National Football League (NFL) safety Landon Collins.
As well as focusing on gaming competitions, ReKTGlobal has also targeted other areas to support its growth, having acquired media agency Fearless Media and marketing company Greenlit Content.
“We are thrilled to announce this news and look forward to a long-term partnership with Summit Partners,” said ReKTGlobal co-founder Amish Shah.
“We believe our dedicated teams and strategic partnerships separate us from other esports organisations, and we couldn’t be more proud to welcome Summit Partners as our debt capital partner.”
Adam Britt, managing director at Summit Partners, added: “We believe ReKTGlobal is well-positioned to continue delivering strong, profitable growth.
“Co-founders Amish Shah and Dave Bialek have an exciting vision for this business – one that we believe bridges the gap between the music, entertainment, sports, apparel and gaming industries – and we look forward to being a partner in that growth.”
