Esports merchandise company We Are Nations has announced the closure of a funding round.
As a result, Esports Ventures LLC have invested in the company as it aims to expand into Europe. It’s looking to undergo a Series A funding round in 2020.
We Are Nations will use the additional capital – of which the exact amount hasn’t been disclosed – to “boost enterprising new activity” through its existing channels, as well as expanding the availability of the merchandise it produces into “non-endemic retail channels both on and off line”.
Dan Cardell, Managing Partner of Esports Ventures LLC commented on the investment in a statement: “We Are Nations is a well-respected name in the esports merchandising space and is known throughout the United States and internationally, and we believe that now is the opportune time to team up with them to help accelerate their impressive growth trajectory.”
Esports Ventures LLC is a venture capital group led by its Managing Partner, Dan Cardell – who has also joined the board of the merchandise company following the round. Cardell is also involved with venture capital firm Independence Equity and artificial intelligence company Ascent Robotics.
Patrick Mahoney, CEO of We Are Nations added: “I met Dan last fall through Trenton Pierson, our SVP of Strategy, and immediately knew we wanted to work with him. His practical mainstream business experience mixed with his willingness to get involved in an emerging market was really important to us.”
In May last year, We Are Nations raised $1.2 million (£920,370) in a venture round. The merchandise company is currently in charge of kitting out the teams that compete in Riot Games’ LCS. We spoke to Mahoney in January about the company’s recent ventures, including the LCS partnership.
We Are Nations recently announced the acquisition of Sector Six, the apparel brand that was previously owned by Infinite Esports & Entertainment. Sector Six is also aiming to expand its reach outside of North America, first starting with Europe.
Esports Insider says: We Are Nations has done an immaculate job in adding new teams and events to its roster of partners and it recently acquired a respectable apparel company. Add in this funding news and it’s clear to see that those behind the company have clear visions of growth in the near future.