- OverActive Media has added more than $22M USD in new funding from both new and existing investors.
- The capital will be used to complete its acquisition of Splyce, as well as fund operations in the Overwatch League and League of Legends European Championship.
- OverActive Media previously announced a $21.5M funding round in October.
OverActive Media, the holding company behind Overwatch League 
team the Toronto Defiant and the Splyce organization, today announced a new funding round of more than $22M.
The funding came from both new and existing shareholders, with a mix of corporate, private, and institutional investors. OverActive Media did not disclose specific investors in its release, but did note that the funding round was not done on a brokered basis.
According to the release, this new round of capital will be used to complete the total acquisition of Splyce, which was announced in November, as well as fund operations for the Toronto Defiant and Splyce’s League of Legends European Championship (LEC) team. The funding will also be used for business development and general working capital needs.
Related Article: OverActive Media CEO on Acquiring Splyce and Seeking Further Franchises
“This is another key milestone in the evolution of OverActive Media into a premier global esports ownership platform,” said Chris Overholt, president and CEO of OverActive Media. “We are humbled by the enthusiastic response from investors and partners around the world. We look forward to pushing ahead with our core franchise strategy, and to building out our already-strong fan communities with our players, sponsors, and partners.”
OverActive Media previously raised $21.5M in equity financing in October. That round was led by original investors, including chairman Sheldon Pollack and Pittsburgh Penguins part-owner Michael Kimel, with additional investment from the Kimel family and venture capitalist Adam Adamou.
