Philadelphia-based esports infrastructure company Nerd Street Gamers secured a $10M USD Series B financing round Tuesday to support its “rapid growth through 2020 and beyond.” Participants in the investment included existing investors T1 co-owner Comcast Spectacor, discount store chain Five Below, as well as venture capital firms Elevate Capital and SeventySix Capital.
Nerd Street Gamers, which was founded in 2009, raised a $12M Series A investment in October 2019 from the same investors. According to the company’s CEO John Fazio, Nerd Street Gamers is targeting to raise a total of $35M by the end of the year to continue its ongoing “capital-intensive growth plan.”
The company operates esports venues and organizes semi-professional esports tournaments. Nerd Street Gamers shared plans to open more than 100 esports venues in Five Below stores, sports stadiums, and college campuses across the U.S. over the next five years.
