Cloud9 is a North American eSports organisation currently fielding teams in Hearthstone, League of Legends, Smite, Super Smash Bros. Melee, Dota 2, Heroes of the Storm, Halo, CS:GO and Overwatch. C9 first started out as a small League of Legends team, as they qualified for the LCS for the first time, Jack Etienne, the current Owner and General Manager decided to pick the team up and ever since has grown exponentially over the years.
Cloud9 made their name and fame primarily in CSGO. The team was formed after EMS One Katowice 2014, and they picked up the Complexity Players.
The organisation has filed a form D filing with the UNITED STATES SECURITIES AND EXCHANGE COMMISSION. They are looking to raise $3 million in investments out of which $2.8 million is said to be in the form of private investments. Form D is basically a request by Cloud9 to the USEC to exempt them from providing more details about the investment. Such filings are regularly used by Startups to gain more investments without making the details public. It allows them to exclude the names of early investors and other details that usually must be disclosed when trying to raise venture capital.
This announcement comes on the heels of Blizzardś Overwatch League announcement. We reported last week about Rogue receiving offers and interest from various sporting teams, NBA and other organisations in order to partake in the Overwatch league. The overwatch league is a very secure environment for team owners and organsiations and is seen as a low risk league with the potential to become a very high profile and high returns investment.
Cloud9 has been at the forefront of the American eSports scene since 2014. Their rosters are across several esports and are quite successful in them. Although most well known for their CSGO roster, their Overwatch roster also has been appreciated by all and sundry.
The filing appears to be the first that Cloud9 has made with the SEC, which suggests this is the first time the company has held an organized funding round of this size. However, the form also states that Cloud9 was incorporated in 2016, so it is possible the organization, which was founded in December 2012, has held past rounds under a different company name.
Source : Form D Filing