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.
This June marks the 25th anniversary of the infamous 1997 "Bite Fight”, the iconic boxing rematch between Mike Tyson and Evander Holyfield when Tyson shockingly bit a piece of his opponent’s ear off. As a macabre tribute to the incident, the boxing legend’s line of cannabis products, Tyson 2.0, has released “Mike Bites", edibles in the shape of an ear complete with a bite mark. Tyson, the chief brand officer and co-founder, along with CEO Adam Wilks joined Cheddar News to talk about the unique gummies. "I just think this is just me owning what I did. I'm owning my responsibility. I've done that. That was pretty bad at the time, but I turned it over to make it pretty good," the former heavyweight champion said.
U.S. Figure Skating Hall of Famer and former Olympian Nancy Kerrigan spoke to Cheddar News about joining Ice Dreams, a national skating tour that connects legends of the sport with its next generation. Kerrigan spoke of the lessons she learned from the sport and how grateful she is for the opportunity to give something back. “I mean skating has taught me some of the greatest things in in my life," she said. "You know, you fall down, things get hard, but you get back up and you keep on trying. And if you're performing and doing something you love, I think you would actually do even better.”
Stephen Smith, Founder and CEO of Kitman Labs, joins Cheddar News' Closing Bell, where he explains how his company's intelligence platform is engineering change in how athletes and sports teams prepare for games.
Sportswear giant Adidas is giving student-athletes the opportunity to become partners as affiliate brand ambassadors to help grow their networks as professional athletes. Attorney Darren Heitner, the founder of Heitner Legal, joined Cheddar News to talk about the legalities of the process. "It is absolutely a game-changer because we see a major brand make a big splash, nine months into name image and likeness rights for college athletes," he said. "While it is a paid brand affiliate type of partnership, it will open the door for 50,000-plus athletes across the country to start making some money, even if it's just through other people clicking their links and making purchases."
State and county taxpayers will be asked to commit a record $850 million in public funds toward construction of the Buffalo Bills’ new stadium as part of a 30-year lease agreement.
Saint Peter's University - a small school in New Jersey school - has skyrocketed to the center of the sports world in a 'Cinderella' story for the record books. The ultimate underdog of the men's March Madness tournament is just the third 15-seed to reach the Sweet 16, after beating Murray State and college basketball powerhouse Kentucky. Throughout the university's historic run, Saint Pete's has reportedly been earning what amounts to millions of dollars in publicity. Amanda Christovich, reporter for Front Office Sports, joins Cheddar News' Closing Bell to discuss.
ESPN College Gameday LaPhonso Ellis joins Cheddar Bets to break down the NCAA Tournament so far, and who will make noise all the way down to New Orleans.
Sponsored by BetMGM
BetMGM Host Olivia Harlan Dekker joins Cheddar Bets to talk about lessons learned from this year's NCAA Tournament and to share which teams have the best value going forward.
Sponsored by BetMGM
