Immortals Gaming Club (IGC) has secured $26M USD in a Series B funding round led by the family office of Meg Whitman.

Former CEO of eBay, Hewlett Packard Enterprise, and streaming platform Quibi, Whitman is an existing investor in IGC, and also sits on the organisation’s board. IGC says it will use the new capital to continue growing its Immortals team brand, along with its Brazil-based MIBR brand, and Gamers Club CS:GO competitive matchmaking platform. 

Discussing developments CEO of Immortals Gaming Club, Ari Segal, said:

“IGC is focused on investing aggressively in growth in competitive gaming, inclusive of our platform, non-team assets such as Gamers Club, and our core team brands Immortals and MIBR. 

“We’ve enjoyed strong growth in our non-team asset portfolio and are excited to leverage a strong balance sheet and focus our energy, time, capital, and other resources on these aspects of the business, as well as current and future esports team assets that authentically serve and deliver for gaming communities around the world.”

While lead investor, Meg Whitman, added:

“This Series B-1 round represents our board and investor group’s ongoing excitement about the opportunities available in this dynamic, diverse, and fast-growing market.”

IGC has also confirmed it has sold its franchise in Activision Blizzard’s Call of Duty League to 100 Thieves, for an undisclosed amount. IGC originally purchased the spot ahead of this year’s inaugural season – through which it competed as the OpTic Gaming Los Angeles brand. 

Despite the sale of its CoD franchise slot, IGC still has several franchise spots in its portfolio, including Overwatch League’s Los Angeles Valiant, and a spot in Riot Games’ League of Legends Championship Series (LCS). IGC also competes in Riot Game’s Valorant.

AYO.NEWS says:

The sale of its CoD League spot, while also landing another sizable investment, suggests an increasingly business driven mindset at IGC – something we’re seeing across more esports organizations as the pressures of converting growing popularity into commercial viability increase. And, given the big ticket cost of franchise spots, letting them go when they’re underperforming is probably a smart move, raising considerable capital that can be targeted on more promising ventures. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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