FaZe Clan has officially closed its Series A with $40 million in the bank. The injection follows a fortuitous partnership with Jimmy Iovine.
The new round of funding will be used to support the expansion of FaZe, one of the world’s most-followed gaming organizations. Jimmy Iovine’s NTWRK led the round of funding. Other investors in this round include Pitbull, Troy Carter, Ray J, Nyjah Huston, Swae Lee, Yo Gotti, Sylvia Rhone, Chris O’Donnell, Big Boy, DJ Paul, Meyers Leonard, Gregory Van Der Wiel, Guy Oseary, Josh Hart, Disco Fries, Offset, and Jamal Murray.
FaZe was established in 2010 and has managed to garner a fanbase of 215 million on social media. It hopes to be a nexus of gaming, sports, culture, and entertainment.
FaZe Clan is aiming to become the ‘Supreme’ brand in the gaming world.
FaZe has 85 personalities – from gamers to sports stars. NBA star Ben Simmons, NFL star Juju Smith-Schuster and artists Offset and Lil Yachty are all associated. FaZe sponsors seven competitive gaming teams in Fortnite, FIFA, PUBG, PUBG Mobile, Rainbow Six, Call of Duty League, and CS:GO.
The company’s sought-after fashion and lifestyle apparel is delivered via limited-edition collaborations. Partners include Champion, Manchester City FC, Lyrical Lemonade, Kappa, CLOT, LA Kings, and many more.
The partnership with NTWRK will further expand its merchandise offerings. NTWRK offers limited edition product drops for major stars like LeBron James and Billie Eilish. Now, they’re using that expertise to help FaZe expand its brand.
Over the past few weeks, the gaming group has been focusing on charitable relief. FaZe Clan supports the Fight2Fund initiative in gaming with a weekly online pro-am tournament. Those tournaments have raised roughly $125,000 in four weeks to support COVID-19 relief.
Fight2Fund supports athletes, musicians, content creators, and brands in the gaming sphere. The organization also partners with Verizon for its #PayItForward LIVE initiative with weekly gaming events.