The Berlin-based esports organization G2 Esports announced Tuesday it raised $17.3 million in a Series A funding round, bringing its total outside backing to $24.6 million.
he team is eyeing global expansion to further take advantage of what's predicted to be a ."It's always been our goal to make this a Western organization, focused not only in Europe but also North America and to some degree South America," Rodriguez says.
Before tackling its lofty plans, G2 is first focusing on its home base. Moving from Spain to Germany, the organization has been constructing a facility and hub for its team in the heart of Berlin."Typically when you hear facility, what you're talking about is a glorified office," Rodriguez says."We want to be one of the first teams to be doing this the right way."
The company is building its 20,000-square-foot esports hub as a public space for fans, intending to host hundreds for events, a place to game and for youth programs. The team is planning to open in Q3 of 2019. Much of G2's intended expansion has to do with content creation, another focus for its funding this year. Esports teams rely heavily on attracting sponsorship dollars through fan engagement."It's not enough to win a world championship in the largest game and then just lay back and enjoy the profits," Rodriguez says.
That means expanding into more games and crafting interesting storylines for fans. The funds will help cover fees for particular leagues, such as the EuropeanChampionship Series. The league moved to a franchise model for the first time this year, requiring teams like G2 to buy-in for $10 million paid across four years. G2 currently sits atop the spring split standings.
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