Dignitas, the esports organization led by Harris Blitzer Sports & Entertainment and Fertitta Entertainment, has raised $30 million in Series A preferred stock.
It will now form a new parent company, New Meta Entertainment, aiming to broaden its reach in sports and entertainment.
HBSE and Fertitta Entertainment led the funding round, which also included Delaware North, Susquehanna Private Equity Investments and music industry executive Steven Rifkind.
Dignitas, one of the longest standing esports organizations dating back to 2003, was acquired by HBSE in September 2016. In June 2019, the organization merged with Clutch Gaming - which was owned by Fertitta - acquiring its League of Legends team that had a League Championship Series franchise.
Michael Prindiville, who previously served as the CEO of Dignitas, has been named the CEO of the new organization.
Expanding The Game
New Meta Entertainment will now operate three separate businesses:
- The esports teams under the Dignitas banner, which includes the LCS team as well as teams in Counter-Strike: Global Offensive, Super Smash Bros. and Rocket League, among others.
- A new content and marketing business that will look to work with influencers across gaming, sports, music and pop culture. In June, Dignitas opened a new headquarters in Newark and is currently planning to a similar facility in Los Angeles next year.
- An investment arm that provides growth capital to companies in the digital sports and entertainment space. It currently has one active investment - U.GG, a League of Legends coaching platform that was incubated at the HBSE-owned Sixers Innovation Lab.