Total amount raised
$21 Millions
Latest funding date
12/1/2018
Location
Riot Games has successfully raised funding through various rounds, with notable investors including Tencent and HAX. The company has been acquired by Tencent for $400 million, marking a significant milestone in its financial journey.
Keep reading to explore the intricacies of Riot Games' fundraising journey and the investors backing this influential gaming company.
What Is Riot Games?
Riot Games, founded in 2006 by Brandon Beck and Nicolo Laurent, is a global company based in Los Angeles, California. They specialize in developing online games, including popular titles like League of Legends and VALORANT. The company employs between 1001 and 5000 people.
How Much Funding Has Riot Games Raised?
- Series A
- Amount Raised: Not publicly disclosed
- Date: December 2006
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its first game, League of Legends.
- Venture Round
- Amount Raised: $7M
- Date: July 2008
- Lead Investors: Benchmark, FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop League of Legends and prepare for its launch.
- Series B
- Amount Raised: $8M
- Date: September 2009
- Lead Investors: Benchmark, FirstMark, Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and support the growing player base of League of Legends.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: November 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund new projects and expand the company's game portfolio.
- Venture Round
- Amount Raised: $6M
- Date: December 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and community engagement initiatives.
Riot Games has raised a total of $21M. The current valuation is not publicly disclosed.
Key Investors
- Benchmark
- Details: Benchmark is a venture capital firm known for its early-stage investments in technology companies. Founded in 1995, it has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Uber, Twitter, eBay.
- FirstMark
- Details: FirstMark is a venture capital firm that invests in early-stage technology companies. Established in 2008, it aims to support innovative startups with high growth potential.
- Investment Focus Areas: Technology, data, consumer products.
- Notable Investments: Pinterest, Shopify, Airbnb.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate founded in 1998. It is one of the world's largest technology companies, known for its diverse portfolio in internet-related services and products.
- Investment Focus Areas: Internet services, entertainment, AI, technology.
- Notable Investments: Epic Games, Spotify, Tesla.
What's Next for Riot Games?
Riot Games is poised to leverage its massive player base for charitable activities, with opportunities to partner with global organizations like GlobalGiving. The company has already demonstrated success by raising over $6 million through in-game purchases, indicating a significant potential for future fundraising initiatives.
Looking ahead, Riot Games may continue to innovate in the space of in-game fundraising, expanding partnerships with more global and local nonprofits. However, navigating complex commercial co-venture laws and ensuring the selection of resonant causes in diverse regions could present challenges. Conducting due diligence to verify the legitimacy and effectiveness of local nonprofits will be crucial for sustained success.
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