Team EnVyUs gets multi-million dollar investment, plans to staff up

(Team EnVyUs)
(Team EnVyUs)

Team EnVyUs is in the money.

The esports org has officially secured a massive investment from venture capital group SierraMaya360, Yahoo Esports has learned. SierraMaya360 wouldn’t specify the amount of the investment beyond confirming that it’s a “seven-figure” sum.

“SierraMaya 360s has been looking to invest in the space, we talked it over 15 teams. We decided on Mike and EnVyUs after we got introduced back in January,” Amish Shah, founding partner of SierraMaya360, told Yahoo Esports. “We loved Mike’s vision and his passion. We did a seven-figure investment and we’re bringing other investors in, starting potentially with sports owners and celebrities, all to be determined over the next 30 to 45 days.”

The financial windfall comes on the heels of the org’s purchase of the Renegades’ LCS spot. EnVyUs also recently announced plans to build an esports facility in Charlotte, North Carolina.

Team owner Mike ‘Hastr0” Rufail told Yahoo Esports that the money will in large part go to expanding his current staff.

“We made some big signings in League and are spending a lot of money there,” he said. “We are a big brand with a very lean staff. We’re competing with some other organizations that have 40 or 50 people on their payroll and we’re sitting here with maybe 12 total between managers and coaches. We want to bring in some people in the areas that we are growing.”

EnVyUs is officially hiring in marketing, sales, operations, accounting, and content production.

“Specifically, we’re going to spend more money to bring content to our fans. We also want to invest in our merchandising, allowing fans to have more gear to represent our team around the world. The [merchandise] demand is currently too much for us to supply,” said Hastr0.

Hastr0 also hinted that the org may hire personalities for shows and content centered around the team, and will be announcing who they are working with in this regard in the coming weeks.

Dylan Walker is on Twitter @dyluuxx.