Dallas-based esports organization Envy Gaming has raised $20M in external capital, adding new fuel to its attempts to monetize its fan base across the Overwatch League and eight other titles. Envy did not disclose the identity of the investors, other than to describe them as “a mix of prominent local investors and Texas families, as well as a select set of national investors.” No new board members or execs will be added as a result of the raise. Envy’s valuation in the deal was not immediately available. “The recent investment round is a huge vote of confidence in the future of esports and reiterates Envy Gaming’s position as one of the top esports organizations in the world,” said lead investor and board member Kenneth Hersh (Ben Fischer, THE DAILY). In Dallas, Brian Womack noted the funding "came from a dozen investors," as there is a "growing market at stake." Revenue for esports was "set to reach" $900M last year, up about 37%, according to researcher Newzoo (BIZJOURNALS.com, 1/4).
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