Mentioned in this article
- Esports Organization Dignitas secured a $30M USD Series A investment to close its merger with LCS franchise Clutch Gaming and to provide capital for its global expansion.
- Dignitas also formed a new parent company, New Meta Entertainment, operating in three verticals: esports teams, content and marketing, as well as investments.
- The company’s ownership group owns several sports and entertainment assets including the NBA teams Houston Rockets and Philadelphia 76ers, among others.
Today, esports organization Dignitas announced that it raised a $30M Series A funding round to close its previously announced merger with Clutch Gaming and to provide expansion capital. The investment was led by Dignitas’ controlling shareholders Harris Blitzer Sports & Entertainment (HBSE) and Fertitta Entertainment. Additionally, new institutional investors Susquehanna Private Equity Investments, Delaware North, and Loud Records founder and hip-hop pioneer Steven Rifkind took part in the financing.
Furthermore, Dignitas has formed a new parent company called New Meta Entertainment (NME), a digital sports and entertainment company operating in three primary verticals: esports teams, content and marketing, and investments.
The company currently runs several professional esports squads competing under the Dignitas banner in gaming titles such as Counter-Strike: Global Offensive, Super Smash Bros., Rocket League, SMITE, and Clash Royale. Additionally, it operates Clutch Gaming’s League of Legends Championship Series (LCS) and Academy team, which will be officially rebranded to Dignitas in January 2020.
Moreover, NME operates a new content and marketing business that works with influencers across gaming, sports, music, and pop culture to develop their talent, produce video, audio, and experiential projects, and monetize their brands at scale.
Through an investment business the company is providing growth capital to companies in the digital sports and entertainment ecosystem. The League of Legends coaching platform U.GG (which was incubated through the HBSE-owned Sixers Innovation Lab), was NME’s first investment in the technology startup space.
Michael Prindiville, who spearheaded Dignitas’ June 2019 merger with Clutch Gaming, has been named the CEO of NME. Most recently, Prindiville served as CEO of Dignitas, the esports organization acquired by HBSE in September 2016.
“NME’s shareholders provide a strong competitive advantage given their success in operating professional sports teams and entertainment assets,” said Prindiville in a release. “Our shareholders embrace the vast potential of esports, gaming and digital entertainment, and we will be leveraging their resources, relationships, and brand insights to grow the NME and Dignitas brands.”
In June 2019, Dignitas opened its new headquarters, a 3,000-square-foot gaming and content production studio adjacent to HBSE’s Prudential Center in Newark, NJ. NME plans to open a similar facility in Los Angeles in 2020. Additionally, NME leverages infrastructure in Boston, Philadelphia, Houston, Europe, and China.
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