Thursday December 7, 2023

100 Thieves Valued at $460M After $60M Raise

  • 100 Thieves raised $60 million in Series C funding.
  • The round valued the esports and apparel company at $460 million.
100 Thieves/Design: Alex Brooks
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100 Thieves, an esports and apparel company, has completed a $60 million Series C funding round valuing it at $460 million. 

The round was led by Green Bay Ventures and included investors Breyer Capital and Artists Capital Management.

Initially launched as a branded apparel company by professional video gamer Matt “Nadeshot” Haag, 100 Thieves established a footprint in gaming following a $10 million seed round in 2017 led by Cleveland Cavaliers owner and Quicken Loans co-founder Dan Gilbert

Two years later, 100 Thieves raised $35 million in a Series B round, giving the company a post-money valuation of $160 million. 

100 Thieves has wasted no time diversifying its business during its meteoric rise. 

  • The company collaborated with Cash App in April to launch the 100 Thieves Cash Card that includes incentives and a $1 donation to charity.
  • The same month, it launched an exclusive line of NFTs as part of the company’s Enter Infinity apparel collection.
  • In May, it extended its partnership with JBL that includes outfitting teams and content creators with headsets.
  • It completed its purchase of gaming keyboard maker Higround in October for an undisclosed amount — the first acquisition in 100 Thieves history. 

100 Thieves has esports teams and content creators that compete in “League of Legends,” “Fortnite, “Call of Duty,” and “Apex Legends.” Last month, the company was named the Esports Organization of the Year at the Esports Awards.

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