Team Envy raises $20 million in external funding.

Team Envy raises $20 million in external funding.

One of the top esports brands, Envy has managed to raise another $20 million via external funding. The Envy organisation is deeply rooted in esports having teams in CS: GO, Overwatch, Rocket League, Fortnite, PUBG, Paladins and Street Fighter amongst others.

The latest investment in esports is the first big investment of 2019. With esports teams constantly pulling in huge investments, the stakes are never higher in esports. Franchised Leagues such as the Overwatch League have huge buy-in prices. While initial estimates for Season 1 buy-in were rumoured to be around $20 million, the same for Season 2 was 2-3 times higher.

The source of this funding is still unknown to the general public. Team Envy will look forth to further develop their CS: GO team in the future. They recently acquired Karrigan to join their roster. At the same time, as we enter into Season 2 of the Overwatch league, teams have to start thinking of their home and away format for the next season. Hosting a Home Game normally requires a significant influx of capital. Envy owns the Dallas Fuel franchises in the Overwatch League. You can view their filing on StreetInsider website here.