High School Esports Platform PlayVS Gets $30M Series B Funding Led by Los Angeles Dodgers
*By Brandon Brathwaite*
PlayVS, a start-up created to build an infrastructure for high school esports, has announced a new Series B funding round of $30.5 million on Tuesday morning. The new infusion of capital was led by Elysian Park Ventures, a firm that operates on behalf of the Los Angeles Dodgers ownership group.
The new funding will also bring in new investments from Adidas, Samsung NEXT, and Plexo Capital.
Angel investors include: Sean “Diddy” Combs, David Drummond (an early employee at Google ($GOOGL) and now SVP of corporate development at Alphabet), Rahul Mehta (Partner at DST Global), Rich Dennis (Founder of Shea Moisture), Michael Dubin (Founder and CEO of Dollar Shave Club), Nat Turner (Founder and CEO of Flatiron Health), and Johnny Hou (Founder and CEO of NZXT).
New Enterprise Associates, Science Inc., Crosscut Ventures, Coatue Management and WndrCo will also continue their investment in PlayVS. The funding comes after PlayVS secured $15 million in Series A funding last June.
In a press release, Tucker Kain, CFO of the LA Dodgers and Managing Partner of Elysian Park Venture said of the latest: “With PlayVS, we have found a model that works, built on a powerful platform that delivers an unparalleled player experience and will have a profound impact on the future of youth sports across the country.”
In addition to the $30 million, PlayVS will launch new game partnerships with Psyonix and Hi-Rez Studios, publishers of “Rocket League” and “SMITE,” respectively. The two new game titles will be joining Riot Games’ “League of Legends.”
PlayVS will now be expanding its platform from its initial five early-access states of Connecticut (CIAC), Georgia (GHSA and GISA), Kentucky (KHSAA), Massachusetts (MIAA) and Rhode Island (RIIL) to include high schools within Alabama (AHSAA), Mississippi (MISSHSAA), and parts of Texas (TCSAAL).
Club Leagues will also be launched in five new states – Florida, Illinois, Ohio, Pennsylvania and Texas. Club Leagues will have full access to the PlayVS platform and have a similar season structure.
“We're honored to have the support of the LA Dodgers, which has one of the best ownership groups in major league sports and are one of the earliest investors in esports. They collectively share our vision for what the future athlete looks like,” PlayVS Founder and CEO Delane Parnell said in a statement.
“One of the reasons we're most excited about esports is accessibility. With this new round of funding and the addition of Rocket League and SMITE, we're able to take another huge step forward as we open the pathway for more students to compete and be recognized in the burgeoning esports industry.”
The inaugural season of PlayVs will begin in February of 2019.
The NFL's decision to ban players from taking a knee during the anthem propagates the narrative that the athletes belong at the bottom of a hierarchy and are just supposed to "do as we say," says ex-Giant Victor Cruz. "I think you'll still see some kind of protest," he tells Cheddar.
The skateboarding legend, who became the first person to land a '900' trick back in 1999, has successfully turned his sporting career into a business empire. It all boils down to perseverance and taking risks, he tells Cheddar's Jon Steinberg.
The social media network's live video platform will help grow its monthly active users, especially as consumers rapidly ditch cable for on-demand content, says Motley Fool analyst Jason Moser.
Frank Zaccanelli, a former owner of the NBA's Dallas Mavericks, says the NFL's decision to adopt a new policy on the national anthem without consulting the NFL Players Association was, "one of the dumbest things I've ever heard."
Former ESPN anchor Bram Weinstein says that, while players may not strike because of the league's new policy, there will likely be some kind of response.
"Your Call Football" allows viewers at home to pick their favorite of three pre-selected plays while a real game takes place. The two-team league ends its first three-game season on Thursday night.
After the Supreme Court lifted the ban on sports gambling this week, the National Hockey League said it wasn't changing its rules against the practice. And teams won't act until the league decides to do something, says the L.A. Kings' chief operating officer, Kelly Cheeseman.
The Seattle City Council passed a new law that will require companies making more than $20 million a year to pay a 'head tax.' Amazon and other Seattle-based companies will pay a tax of 14 cents per employee per hour worked, which comes out to roughly $275 per employee each year. The tax will raise money for affordable housing since home prices have risen recently in Seattle. In response, Amazon's vice president said this move "forces us to question our growth here." A Starbucks exec criticized the city for spending "without reforming and fail[ing] without accountability."
A number of top Tesla executives have left the company in the past few months. Aaron Cole, managing editor at Motor Authority, joins us to discuss whether investors should be worried that this 'drain brain' will have negative consequences for the electric carmaker. The company is ramping up production to meet its ambitious Model 3 targets.
Cheddar's Brad Smith speaks with Joe Gibbs, Pro Football Hall of Famer and owner of Joe Gibbs Racing, at a special event outside the New York Stock Exchange celebrating Stanley Black & Decker's 175th anniversary. Gibbs talks about how NASCAR is focusing on expanding its digital outreach to reach a younger audience. He also weighs in on the Supreme Court's decision to reverse a ban on sports gambling.
The car racing organization's biggest focus now is trying to reach millennials by adjusting how the sport can be consumed, says Joe Gibbs, owner of a NASCAR racing team and a former NFL coach.
