Nerd Street Gamers raises $6m in funding round
Nerd Street Gamers has raised $6 million in a funding round.
As reported by Esports Insider, the investment was led by capital firm Konvoy Ventures which provided $5 million of the funding. The other $1 million was sourced from "strategic investors."
The esports infrastructure company will use the money raised to grow its LAN gaming center chain Localhost, which has venues across the United States.
Nerd Street Gamers plans to open new collegiate locations, including partnerships with Temple University where it will host an esports programme and Maryville University to run a youth summer camp.
"We couldn't have asked for a better partner in Konvoy given their experience, network, and most importantly their passion for the industry," said Nerd Street Gamers founder and CEO John Fazio. "Together, we're going to build something that amplifies the entire industry."
Last week, Digiday reported that following financial troubles last year, Nerd Street Gamers took out a loan from Riot Games "to compensate players and talent" which the company has since paid off.
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