Nerd Street Gamers secures $6 million in a funding round

Nerd Street Gamers has successfully secured $6 million through a recent funding round.

According to Esports Insider, the primary investor was Konvoy Ventures, contributing $5 million, while the remaining $1 million came from "strategic investors."

The esports company intends to utilize the funds to expand its Localhost LAN gaming centers, which are distributed throughout the United States.

Planned expansions include new collegiate sites in collaboration with Temple University for an esports initiative and Maryville University for a youth summer camp.

"We couldn't have asked for a better partner in Konvoy given their experience, network, and most importantly their passion for the industry," commented John Fazio, founder and CEO of Nerd Street Gamers. "Together, we're going to build something that amplifies the entire industry."

Earlier, Digiday reported that Nerd Street Gamers had previously encountered financial difficulties, leading to a loan from Riot Games to "compensate players and talent," which has since been repaid.