US-based Nerd Street Gamers, a national network of esports facilities and events dedicated to powering competitive opportunities for gamers, raised US$ 11.5 million in additional funding on 3 February 2021.
Investors: The funding round was led by San Francisco-based venture capital firm Founders Fund, headed by Brian Singerman. The company’s total funding to date stands at US$ 25.3 million. Nerd Street had raised US$ 12M in its Series A funding round in October 2019 from Five Below, Comcast Spectacor, SeventySix Capital, Elevate Capital and angel investor George Miller.
Purpose of the funding: The funds will be used to open new 20,000+ square foot regional Localhost venues and launch digital products, events and content.
About Nerd Street Gamers
Founded in 2016 by John Fazio, Nerd Street Gamers (Nerd Street) promotes greater access to the esports industry by laying a national framework for esports talent development and high-quality gaming tournaments. Nerd Street has experienced explosive growth, especially due to the pandemic
Nerd Street offers affordable competitive experiences such as tournaments, camps and coaching. It claims that its membership grew by more than 218% since 2019. Nerd Street continued opening Localhost venues in Austin, Philadelphia and St. Louis in 2020, hoping to provide the gamers affordable access to high-quality equipment post the pandemic. With people being vaccinated at a rapid rate, this might happen soon.
What the founder has to say: “Nerd Street being added to the Founders Fund’s portfolio of industry-pioneering organizations is one of our greatest honours to date. Within minutes of meeting Brian, it was clear that he was profoundly aligned with our vision and mission. Backing us during the uncertainty of a global pandemic is a testament to Brian’s bold foresight and an incredible validation for our entire team,” said John Fazio, founder and CEO of Nerd Street Gamers.
What the investors have to say: “I was impressed with John from our first meeting and knew I wanted to help advance his vision of building a robust infrastructure to support gamers of all ages and skill levels. As a gamer myself, I’ve watched the massive growth of esports over the years. Esports are surpassing traditional sports in a number of players and audience size, especially among younger demographics, and Nerd Street is in a perfect position to capitalize on that shift,” said Brian Singerman, Partner at Founders Fund.
About Founders Fund
Founders Fund looks for valuable companies across all sectors and stages. Its partners have been founders and early funders of companies – PayPal, Stripe, SpaceX, Palantir, Airbnb and Facebook. Founders Fund offers maximum support with minimum interference to its startups.
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