FaZe Clan has received a “strategic investment” from Cox Enterprises, the global conglomerate behind major car industry brands like AutoTrader and Kelley Blue Book.
Cox is an established partner of FaZe Clan: It’s the co-owner of Atlanta Esports Ventures, which in 2019 partnered with FaZe to form Atlanta FaZe, the entertainment org’s Call of Duty League team. (The buy-in price for that league, FYI, is a cool $25 million.)
“This is a huge leap in the evolution of our partnership with Cox Enterprises and Atlanta Esports Ventures that will lead to greater opportunities for all of us,” Lee Trink, FaZe Clan’s CEO, said in a statement. “This investment comes at an ideal time as our brand has transcended esports, becoming a powerful platform for gaming and youth culture.”
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As part of the investment, Paul Hamilton, CEO of Atlanta Esports Ventures, will become a strategic advisor on FaZe Clan’s board of directors.
“FaZe Clan is at the forefront of gaming lifestyle and culture,” Hamilton said in a statement. “We have a tremendous partnership with FaZe Clan through Atlanta FaZe, and we look forward to supporting their continued success.”
Atlanta FaZe has held the No. 1 position throughout the 2021 Call of Duty League season, winning three out of five Majors tournaments and, in the process, setting the record for longest unbroken win streak in the league’s history.
Financial details of Cox Enterprises’ investment were not disclosed.
To date, FaZe Clan has raised $40 million across one pre-seed round and two seed rounds in 2018, and a series A in April 2020. Its Series A was led by ecommerce platform NTWRK, and participated in by musicians Pitbull, Swae Lee, Yo Gotti, DJ Paul, Ray J, Offset, and Disco Fries; music executives Sylvia Rhone, Troy Carter, and Guy Oseary; pro skateboarder Nyjah Huston; soccer star Gregory Van Der Wiel; basketballers Meyers Leonard, Josh Hart, and Jamal Murray; actor Chris O’Donnell; and radio host Big Boy.
FaZe Clan alson has partnerships with a number of sports organizations, including the NFL, Manchester City Football Club, the Los Angeles Kings, as well as clothing brands Champion, Lyrical Lemonade, Kappa, and CLOT.