October.27.2017
Orrick has advised Santa Monica-based eSports organization Cloud9 on its $25 million Series A financing round. Led by Founders Fund, new investors in the round included World Wrestling Entertainment (WWE), the Beverly Hills Sports Council, Washington Capitals and Wizards co-owner Raul Fernandez, Creative Artists Agency co-founder Michael Ovitz, and tech investor David Sacks. Investors in Cloud9’s $3 million seed round in January 2017 also increased their stake, including video game development company FunPlus, Signia Venture Partners' Rick Thompson, Reddit co-founder Alexis Ohanian and tech investor Bill Lee.
As part of the round, Founders Fund partner Brian Singerman will join Cloud9’s board of directors, while WWE and San Francisco Giants outfielder Hunter Pence, who was an investor in Cloud9’s seed round, will join as board observers.
The Orrick team advising Cloud9 included San Francisco-based partner Karen Dempsey and Santa Monica-based associates Josh Pollick and Donna Salcedo. The team also advised Cloud9 on its seed round.