Esports organisation Dignitas has announced a $30 million (£24 million) Series A funding round and the finalisation of its merger with LCS side Clutch Gaming.
The investment round was led by Harris Blitzer Sports & Entertainment (HBSE) and Fertitta Entertainment, two of Dignitas’ controlling shareholders. New investors include Susquehanna Private Equity Investments, Delaware North, and Steven Rifkind, Co-founder of Loud Records.
The organisation has also announced the formation of a new parent company, New Meta Entertainment (NME). The company will operate in three verticals: esports teams, content and marketing, and investments – with U.GG being its first investment. Michael Prindiville, who previously served as the CEO of Dignitas, has been named CEO of the newly-formed entity.
Prindiville commented on the new company: “NME’s shareholders provide a strong competitive advantage given their success in operating professional sports teams and entertainment assets. NME will be an industry innovator, and will operate at the intersection of esports, media, technology and entertainment. Our shareholders embrace the vast potential of esports, gaming and digital entertainment, and we will be leveraging their resources, relationships and brand insights to grow the NME and Dignitas brands.”
It was in June that Harris Blitzer Sports & Entertainment (HBSE), the parent company of Dignitas, officially acquired Clutch Gaming. In the same month, Dignitas opened its new 3,000-square-foot headquarters adjacent to HBSE’s Prudential Center in Newark. It has been confirmed New Meta Entertainment plans to open a similar facility in Los Angeles.
Esports Insider says: $30 million may not be a ground-breaking figure in esports anymore but it’s still some serious capital. We’re intrigued to see NMEs next moves, already having a significant footprint in the industry.