Esports Firm ReKTGlobal Secures $35 Million In Funding

ReKTGlobal, the parent company of esports teams Rogue and the London Royal Ravens, has received a $35 million debt capital raise from Summit Partners. 

The funding will be used in a number of areas, including hiring new C level executives, expanding the sales team and of course signing top free agents for the organization’s competitive teams. 

“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. “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.” 

Summit Partners, a major investment firm that manages more than $21 billion in assets, credited the fact that ReKTGlobal is one of only a handful of esports businesses to have turned a profit as a major reason why they decided to invest in the business. 

ReKTGlobal has taken a fairly unique approach to growth compared to other esports teams, not only focusing on the competitive side but also in other areas. The company has acquired multiple other businesses in the esports space, such as media agency Fearless Media and marketing firm Greenlit Content.

“ReKTGlobal began four years ago with the thesis that the nascent esports industry needed best practices and processes,” said Dave Bialek, CEO of ReKTGlobal. “ReKTGlobal was, in our early days, picks and shovels for the industry. Consequently, our ethos and our DNA is centered in ReKTGlobal’s esports marketing business. Our ability to cross-pollinate our teams with our marketing businesses affords us with an industry advantage over our team-only colleagues in the market. We have disproportionate access, insights and information that can be brought to bear to the entirety of our organization. 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 realize that accomplishment.” 

Shah is bullish on the future potential of the company, stating that the company has the potential to become a billion-dollar business in the next two years. Over the coming months ReKTGlobal will be looking to expand its portfolio, with more acquisitions and partnerships, and of course, add some championships to its collection. 

Rogue, the League of Legends team owned by ReKTGlobal, is currently competing in the League of Legends World Championship in Shanghai, China. The team currently sits in third place in Group B, with a 1-2 record to start the tournament.

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