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.
BetMGM Host Olivia Harlan Dekker joins Cheddar Bets to break down tonight's big Bucks-76ers matchup -- likely Philly's last game without James Harden.
Sponsored by BetMGM
While many are excited to watch the final two NFL teams square-off and see which one ultimately takes home the trophy, some, on the other hand, are there for another mian attraction -- the commercials. Companies during this year's game are looking towards the future From electric vehicles, to robots, and crypto-currency, several first-time advertisers are expected to join long-time advertisers like Pepsi, Budweiser and Doritos during the NFL's biggest game. Tom Morton, Global Chief Strategy Officer at R/GA, joined Cheddar News' Big Game Special to discuss.
This week's Spring Training has been delayed as a result of the ongoing MLB Lockout. This past Saturday lead negotiators and lawyers from Major League Baseball and the players union met to discuss the economic hurdles needed to be cleared for a new labor deal, but from all accounts, it seems the sides are still far apart. Baseball Columnist and Publisher of "The Joe Sheehan" Baseball Newsletter, Joe Sheehan, joined Cheddar to discuss more.
The Super Bowl might be over, but people are still buzzing about the players, commercials, halftime show, and more. Google tracks the top searches before and after the game every year, revealing the show-stopping moments of the biggest sporting event of the year. Sadie Thoma, Director of US Creative Partnerships at Google, joined Cheddar's Opening Bell to discuss the top trends this year.
Private equity firms are taking a big interest in investing in NBA teams, the sports league showing the highest ROI over the last two decades according to Sportico, Forbes, and PitchBook. Wylie Fernyhough, lead analys for private equity at PitchBook joined Cheddar News to discuss the way firms are looking to get a piece of the action on the court. “There’s a certain amount of rarity, with these," Fernyhough said. "They’re not exactly printing new NBA franchises."
Kyle Jaeger, senior editor for Marijuana Moment, joined Cheddar News' Closing Bell, where he explains why a stigma still exists for the cannabis industry in advertising and social media after NBC rejected Weedmaps' ad for the big game even though more states across the country are legalizing cannabis.
We know that the Los Angeles Rams emerged as Super Bowl champions, but the crypto industry also came out a winner on Sunday with several notable companies getting airtime in primetime. However, Richard Smith, author of the Risk Rituals Newsletter, joins Cheddar News' Closing Bell, where he says the campaigns were a 'disappointment' and adds that crypto companies would be wiser spending their resources on creating value.
Drake gambled $1.3 million in Bitcoin on Sunday’s Super Bowl — and won. Some of the action that the rapper placed bets on included the LA Rams to win outright and Odell Beckham Jr. to score a touchdown.
