On July 19th, the world-famous gaming and lifestyle brand XSET announced it had closed a $15 million Series A funding round. VentureBeat is saying that this money will go towards investing in new executive talent, content creation, and marketing campaigns.
This funding round was left by LightWork WorldWide LLC. Additional investments came from organizations Apex Capital Partners, Baron Davis Enterprises, Breakaway Ventures, and more. Celebrities like Young Money, Swae Lee, and NFLers such as Ezekiel Elliott and Ndamukong Suh also supported this funding round.
“XSET’s approach from the beginning has been to build a revenue and profit-focused brand while still leaning into our values of diversity and inclusion,” said XSET CEO Greg Selkoe. “We are leveraging our amazing team’s unrivaled experience in building content, fashion, music, gaming, and lifestyle allowing XSET to scale but for a fraction of the spend as our competitors. XSET is going to be the dominant brand in gaming lifestyle, and we believe we can grow something massive without burning huge amounts of capital or compromising our values. We do this by being authentic and showing up every day to innovate and providing value across everything our fans love from gaming to streetwear. We will always put the XSET fans first.”
XSET is a professional esports organization based in Boston, Massachusetts that was founded in 2020. The company supports rosters competing in numerous hit games including Fortnite, Apex Legends, VALORANT, Rocket League, and so on.