Fnatic raised $10 million in a round led by Beringea.

Fnatic, a London, UK-based esports company, announced that it secured funding of $10 million.

The money was raised from investors led by Beringea UK with participation from existing investors Unbound, LVL1 Group, JHD as well as key management.

Proceeds will be used to support the global growth of its pioneering esports brand and drive the success of its leading high-performance teams.

Fnatic, founded in 2004 by CEO Sam Mathews, built an esports business and operates a team brand that is one of the most viewed teams among western esports fans and is the second most watched team of 2020 with over 110 million hours watched.

Fnatic has previously raised nearly $25 million across its various funding rounds.