Cloud9

Cloud9 is an esports team organization founded in 2013 and has grown into one of the most valuable esports companies in the world (estimated valuation in 2020: USD 350 million; revenue: USD 30 million). Cloud9 initially played League of Legends and has diversified into other esports housing 10 different teams playing titles such as League of Legends, Counter-Strike: Global Offensive (CS:GO), Overwatch, and Fortnite.

Cloud9’s North American League of Legends team holds the longest streak for consecutive World Championship appearances (six). Cloud9 also owns the Overwatch League’s London franchise, the London Spitfires, which won the inaugural Overwatch League held in 2018. On top of that, Cloud9’s CS:GO team became the only North American roster to win the CS:GO major in the sport’s history. Cloud9 has accumulated prize winnings of USD 9.8 million, of which CS:GO winnings account for 25.7%.

In 2018, Cloud9 raised Series B funding of USD 50 million, which was allocated mainly to build a 20,000-30,000 sq ft training and accommodation facility for its players. In 2019, Cloud9 signed Microsoft as its technology partner and aims to incorporate data analysis on team performance and the tendencies of opponents into formulating team strategies. Further, in September 2020, the team signed Danish audio and video solutions provider EPOS as its audio partner. Cloud9 currently has sponsorships with brands including AT&T, BMW, Red Bull, Puma, and Twitch.

In October 2020, Cloud9 announced that it will field an all-women esports team for the first time. The new team will debut at Riot Games’ Valorant esports tournament (First Strike) beginning in late October 2020. This is significant since the esports industry has a history of being scrutinized for being a male-centric industry.

In March 2021, the company announced that it will halt its Counter-Strike: Global Offensive (CS:GO) activities and bench its rostered players, including the coach and general manager. Benched players will have the freedom to pursue other opportunities. The decision was made as the team was unable to train together in North America due to the COVID-19 pandemic. The company claims it will return to NA CS:GO when the situation improves.