Esports in North Texas is ever-growing, and Envy Gaming is pushing for growth despite the pandemic stalling live action.
The Dallas-based esports organization announced Wednesday that Gray Television, headquartered in Atlanta, is leading a $40 million investment round.
Gray, which reaches approximately 24% of U.S. television households with 160 affiliates of the Big Four broadcast networks, is the lead investor for Envy’s Series C round and will invest $28.5 million and choose two people for Envy’s board of directors.
Generally speaking, this round of investment points to an already successful business seeking additional growth.
“There’s massive growth in front of us, and we’ve seen massive growth already. We need to capitalize on the opportunities that are in front of us and are coming in lots of different directions,” Envy CEO Adam Rymer told The Dallas Morning News in a phone interview Wednesday afternoon. “We are lucky enough to be in a position where we have a platform to take advantage of a lot of those barriers.
“The capital that we’re raising is to continue to grow, and not let some of those big initiatives pass us by as the industry is being formed around us.”