NASHVILLE, Tenn.--(BUSINESS WIRE)--Esports retail and merchandise company We Are Nations announces a recent fundraising round with Dan Cardell and Esports Ventures LLC.
The raise is targeted to support the delivery of We Are Nations’ ambitious expansion plans both in the US and Europe to drive the company’s rapidly growing esports team and league business.
With increased marketing and operational support, the company will use the funds to boost enterprising new activity through their existing direct to consumer channels, as well as expanding the availability of esports merchandise into non-endemic retail channels both on and off line.
Both parties will not be disclosing the investment amount at this time. Nations believes this round will take the company to a Series A raise sometime in 2020.
Esports Ventures LLC is an early-stage venture capital group focused on esports and emerging gaming technologies. The Chicago-based firm is led by Managing Partner Dan Cardell. In addition, Cardell has joined the company board.
“We Are Nations is a well-respected name in the esports merchandising space and is known throughout the United States and internationally, and we believe that now is the opportune time to team up with them to help accelerate their impressive growth trajectory,” said Managing Partner Dan Cardell.
Cardell is also involved with Northbrook-based venture fund Independence Equity and Tokyo-based Ascent Robotics.
Cardell’s career has involved the development of successful investment strategies at firms such as Mellon Bank, Weiss, Peck & Greer, Bank of America, and Wintrust.
We Are Nations CEO Patrick Mahoney added, “I met Dan last fall through Trenton Pierson, our SVP of Strategy, and immediately knew we wanted to work with him. His practical mainstream business experience mixed with his willingness to get involved in an emerging market was really important to us.”
About We Are Nations
We Are Nations is a specialist esports consumer products and retail company with locations based in the United States, United Kingdom and Australia with additional distribution partners around the world. The company provides merchandise design, sales, manufacturing and distribution services for esports teams, leagues and other endemic and non-endemic brands operating in the esports industry.