North American esports organization Envy Gaming makes headlines today with its announcement of a $40 million Series C funding round involving a TV company. Led by Gray Television, the investment round aims to grow Envy’s current and future talent, projects, and more. Gray already invested $28.5 million in the organization. Additionally, it will name two directors to join the board of directors at Envy.
Gray Television Takes Stake in One of Fastest Growing Segments of Sports & Entertainment@GrayTelevision is leading a $40M investment round for Envy Gaming. As lead investor in @Envy Series C round, $GTN will invest $28.5M + name 2 directors to Envy Gaming board of directors. pic.twitter.com/zUrDX0Lw1H
— Gray Television (@GrayTelevision) March 10, 2021
Gray Television Invests in Esports
In a release, Mike Rufail, Founder and CGO at Envy, states that from the first time he talked with Gray, the organization found the “perfect partner to help continue its great success.” With the company’s remarkable portfolio, it’s no surprise too.
Gray Television is one of the largest owners of television stations in the US, reaching 24 percent of American households. It broadcasts over 500 separate programming streams and owns video program production, marketing, and digital businesses.
Envy saw an outstanding business run in the past twelve months too. Musician Post Malone joined the ownership groups and two of the fastest-growing female streamers, Alexandra and Andrea Botez, joined the company. And to cap it off, the organization won the inaugural Call of Duty League World Championship in 2020.
When paired together, it seems like Envy can do everything in the future. In conjunction, Hilton H. Howell, Jr., Gray Television’s Executive Chairman, and CEO was just as ecstatic to lead the funding round. He stated his excitement on “breaking ground and pushing the limits of what the future holds for gaming and entertainment.”
Adam Rymer, CEO of Envy Gaming, expressed his excitement for the funding round and partnership, hinting at what the organization wanted to accomplish.
“Esports and gaming is the fastest-growing area across all of media and entertainment,” Rymer stated. “Building global communities through content and engagement, similar to what the world has seen in the music, film and TV industries, is an endeavor we’re incredibly excited to work on with Gray as our partner.”
Although there haven’t been any specific details on upcoming Envy-fueled projects, fans can expect the best of everything as the esports organization aims to grow faster than ever with support from the investment round and Gray Television.
Written by Jay Hunter
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