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

Yep, Jay Ajayi signed with the Union as pro esports player. Here’s where to watch him play

Check out these Philadelphians who made Forbes’ 30 Under 30 list for 2020

Wharton just launched a sports analytics program focusing on data in the industry

SPONSORED

Philly

How the history of Linode HQ inspires its employees

Philadelphia

Inspire

Senior Software Engineer (Data Services)

Apply Now

Philadelphia

Inspire

Sales Channel Development Manager

Apply Now

990 Spring Garden Street, 5th Floor, Philadelphia, PA 19123

Azavea

Part-Time Accountant

Apply Now

West Chester-based StreamGeeks is holding a livestreaming summit in NYC next week

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

SPONSORED

Philly

When it comes to diversity, Vanguard puts its money where its mouth is

Philadelphia, PA

Perpay

Full Stack Engineer

Apply Now

Philadelphia

Guru Technologies

Sales Development Representative

Apply Now

Philadelphia

Macquarie

Investment Operations- Technical Lead

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!