Home Industry OverActive Media Adds $22m to Develop Esports Segment

OverActive Media Adds $22m to Develop Esports Segment

273
0
OverActive media gallery photo.
OverActive Media receives $22m in fresh funding to spend on esports assets.
  • OverActive Media secures successful $22m funding round
  • The fresh capital will be allocated to finish the acquisition of Splyce, an esports powerhouse, and to develop the recently established Toronto Defiant Overwatch League franchise
  • The OWL kicks off on February 15, and TD will debut on the second day of the competition

OverActive Media, the parent group behind the newly-established Overwatch franchise Toronto Defiant, has concluded a $22-million funding round. This comes top on the already acquired $21.5 million back in October 2018.

OverActive Media Adds $22m to Expand Esports Operations

OverActive Media, the company behind Overwatch League (OWL) franchise Toronto Defiant and the soon-to-be full proprietor of esports powerhouse Splyce, has successfully concluded a new investment round, fetching extra $22 million.

The new instalment successful tops off a previously-established milestone by the company when in October 2018, OverActive Media fetched $21.5 million in a previous funding round.

While Toronto Defiant will be focusing on Blizzard’s fast-paced fantasy shooter, Splyce will be thrown in the crucible of the newly-rebranded League of Legends European Championships, facing off top opponents such as Fnatic and SK Gaming, and Rogue among newcomers.

In the official statement, OverActive Media avoided fleshing out the details of the deal, but the company specified that the funds will be used to conclude the acquisition of Splyce as well support Toronto Defiant. Some capital will be allocated for business purposes as well.

OverActive president and CEO Chris Overholt commented on the event as a welcomed move:

This is another key milestone in the evolution of OverActive Media into a premier global esports ownership platform.

Mr. Overholt spoke favorably of the “humbling experience” that has been the response from investors and partners from all across the world. He stated that the company will seek to forge ahead with their core franchise strategy while still focusing on establishing better channels of communication with players, sponsors and partners.

The inaugural season of the Overwatch league kicked off with as many as 12 teams, including:

  • Boston Uprising
  • Florida Mayhem
  • Houston Outlaws
  • London Spitfire
  • New York Excelsior
  • Philadelphia Fusion
  • Dallas Fuel
  • Los Angeles Gladiators
  • Los Angeles Valiant
  • San Francisco Shock
  • Seoul Dynasty
  • Shanghai Dragons

Since 2018, the game has been changing. In September, 2018, Blizzard announced they were adding eight new teams with the OWL kicking off the new season with 20-strong teams. Some of the most exciting additions to the leagues have been:

  • Chengdu
  • Hangzhou
  • Paris
  • Toronto
  • Vancouver
  • Washington, D.C.

On the occasion of the expansion, Activision Blizzard Esports Leagues CEO and president, Pete Vlastelica, spoke highly of the development of the format:

We know that the difference between a good league and a great league is its owners, and we set a high bar for our first season with the caliber of ownership groups.

Overwatch League Season 2019 is scheduled to kick off on February 15, but OverActive Media’s own franchise Toronto Defiant will debut during the second day of the competition.

Summary
OverActive Media Adds $22m to Develop Esports Segment
Article Name
OverActive Media Adds $22m to Develop Esports Segment
Description
OverActive Media has successfully concluded a fresh capital round, adding $22m to use on the acquisition of Splyce and development of Toronto Defiant.
Author
Publisher Name
Esports Wizard
Publisher Logo

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.