ReKTGlobal, the parent company of organisation Rogue, has raised $10.8 million (£8,402,400) in a Series A funding round.
Nick Gross, an entrepreneur and musician, led the round and will join the board of the company. He had previously invested in ReKTGlobal and helped to establish the Junior Rogue program, which aims to help children to make gaming a viable career in the future.
Other investors that participated in the round include Steve Aoki (who co-owned Rogue prior to its acquisition), members of the band Imagine Dragons (who invested last May), and entertainment giant Larry Rudolph, alongside other figures from sports and media.
Amish Shah, Co-founder of ReKTGlobal discussed the funding: “Nick Gross and the investors selected for this round bring incredible expertise and connections in the entertainment world that will help fuel Rogue’s international growth as a pro gaming powerhouse with esports superstars, celebrity supporters and a rabid fanbase.”
The capital will help to cover the cost of Rogue’s entry into Riot Games’ LEC. Formerly known as the EU LCS, the competition has now implemented a franchising system – Rogue is one of 10 long-term partners to be accepted.
Nick Gross also commented: “We’ve believed in the vision of ReKTGlobal’s co-founders Amish Shah and Dave Bialek from the beginning. By partnering with ReKTGlobal, Find Your Grind was able to bring esports curriculum to high schools across the Unites States and award $450,000 in annual scholarships to students interested in exploring esports as a possible lifepath.
“I’m passionate about this space, and it’s exciting to take my involvement with ReKTGlobal to the next level by joining the board, bringing our Find Your Grind and Junior Rogue programs to Europe, and expanding Rogue esports around the world.”
Rogue was founded in May 2016 and was acquired by its eventual parent company ReKTGlobal in January 2018. As well as League of Legends, it currently competes in Counter-Strike: Global Offensive, Rainbow Six Siege, Rocket League, FIFA, and Fornite.
Esports Insider says: ReKTGlobal’s Rogue was the only North American organisation to join the LEC without having competed in the EU LCS, and that means its buy-in cost was more than it could’ve been. This investment should cover that cost and it reinforces the support of the company’s previous investors (which is always nice).