100 Thieves raised $60 million at the close of its Series C funding round, for a total valuation of the business at $460 million. That's up from the $160 million valuation it received after Series B funding two years ago.
This round of investment was led by Green Bay Ventures, with support from new and existing investors that include Breyer Capital, Aglae Ventures, Tao Capital, Willoughby Capital and Artist Capital Management. The funds will be used to continue growing the brand's core esports, entertainment and apparel businesses, and to launch new businesses and bankroll acquisitions.
"I'm incredibly excited about the valuation, but it doesn't stop here," founder and CEO Matt "Nadeshot" Haag said in an interview with Forbes. "Valuation is one thing, but delivering results in the future for our investors and our community and our board members is the number one goal. We really just want to build the most inclusive gaming brand that the world has ever seen. I think we're well on our way to doing that."
100 Thieves' revenue for 2021 was more than twice that of 2020, according to a news release.
"100 Thieves has proven time and again over the past four years that it’s unlike any other company in gaming, sports or entertainment," reads a statement from Green Bay Ventures managing director Anthony Schiller. "Their ambitious vision and ability to execute gave us the conviction that 100 Thieves is going to be the most important company in gaming culture over the next decade."
100 Thieves currently fields teams in League of Legends, Fortnite, Valorant, Call of Duty and Apex Legends. It also has 15 content creators across those titles and more making content under its banner.