Call of Duty League franchise team London Royal Ravens have received a financial boost.
Their parent company ReKTGlobal has raised $35m in debt capital from investment company Summit Partners.
ReKTGlobal also operates LEC team Rogue and a host of other businesses, including digital advertising agency Fearless Media, content company Greenlit Content, services provier Fullcube and talent management firm TXG, a joint venture with TalentX Entertainment.
“This capital will be used to recruit top executives to the leadership team from a chief revenue officer, a chief people officer to build a solid culture top-down, build a top-notch sales team, sign top free agents for competitive teams, so they can compete year in and year out for Championships and adding more staff as needed,” said Amish Shah, co-founder of ReKTGlobal, as reported by Forbes.
“Finally, we’re extremely excited to have an investor group like Summit Partners along for the journey who can give us access to more capital to make strategic acquisitions in the future as they believe in our vision for the company.”
“ReKTGlobal began four years ago with the thesis that the nascent esports industry needed best practices and processes,” added Dave Bialek, CEO of ReKTGlobal.
“Ultimately, the marketing businesses generate meaningful revenue which allows us to organically grow and cultivate our team business. As an example, two years ago, our League of Legends team, Rogue, began 2-16. We slowly brought in our young academy players to the top team, allowed them to grow into their role and they are now competing in Worlds in China.
“The success of our marketing businesses afforded us with the time and revenue to realise that accomplishment.”
Rogue were knocked out of the League of Legends 2020 World Championship (Worlds) group stage today.
Dom is an award-winning writer who graduated from Bournemouth University with a 2:1 degree in Multi-Media Journalism in 2007.
A keen League of Legends and World of Warcraft player, he has written for a range of publications including GamesTM, Nintendo Official Magazine, industry publication MCV as well as Riot Games and others. He works as full-time content director for the British Esports Association and runs ENUK in his spare time.