N3rd St. Gamers raises $2.57M toward its Series A - Technical.ly Philly

Business

Feb. 8, 2019 9:15 am

N3rd St. Gamers raises $2.57M toward its Series A

This year will see the NoLibs-based organization expand its national presence through a 10-city championship.
Fragadelphia 2018, a Counter-Strike tournament organized by N3rd St. Gamers.

Fragadelphia 2018, a Counter-Strike tournament organized by N3rd St. Gamers.

(Photo by Marco Cerino)

According to a filing with the Securities and Exchange Commission, NoLibs-based esports tournament organizer N3rd Street Gamers has raised $2.57 million in funding.

James Love, communications director for the N3rd Street company cofounded by John Fazio and Rob Hilsky, confirmed the raise via email on Thursday.

“After a banner year for us and the proven data points we were looking for, we’re continuing to accelerate our growth at a national scale,” Love said. “The [$2.57 million] is a convertible note provided by our existing investors as commitment to our growth and initial contribution towards our Series A raise.”

(For context, convertible notes are a common vehicle for funding in the startup realm. It’s basically a loan that converts to equity in a company in conjunction with an upcoming financing round.)

Investors in this round, Love confirmed, include SeventySix Capital — which in 2017 invested an undisclosed amount in the company — and Comcast Spectacor, which pumped an initially-undisclosed amount in the company (an SEC filing later showed that number was $1.3 million) in June of 2018.

The realLIST 2019 company, which works to develop a pipeline of top-flight esports talent, opened an 18,000-square-foot gaming hub in Lakewood, Colo. last year. This year it kicked off a string of events called the National Championship Series, which will reach 10 cities through 2019.

Companies: Nerd Street Gamers
-30-
CONTRIBUTE TO THE
JOURNALISM FUND

Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

The Philly region’s growing esports prowess will be featured on new 10-episode NBC show

Comcast Spectacor’s new joint esports venture launches, with Joe Marsh as CEO

Here’s how 11 startups grew during the second LIFT Labs Accelerator

SPONSORED

Philly

How Relay is helping enterprise clients get proactive about customer engagement

King of Prussia, PA

Deacom

Deacom

Apply Now

Chesterbrook, PA

Deacom

Entry Level Software Developer

Apply Now

Philadelphia

The Philadelphia Inquirer

Marketing Design Coordinator

Apply Now

The global Overwatch finals solidified Philly’s esports cred

That Fusion esports arena coming to South Philly in 2021 just broke ground

These Temple grads created a startup for rentable gaming pods

SPONSORED

Philly

These hiring companies want to meet you at NET/WORK Suburbs

Philadelphia

The Philadelphia Inquirer

Sales Analyst

Apply Now

Philadelphia

The Philadelphia Inquirer

Digital Account Executive

Apply Now

Philadelphia OR Baltimore

Technically Media

Technical.ly Editorial Intern (Spring 2019)

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

Do NOT follow this link or you will be banned from the site!