Sentinels Receive $3.4M Investment Through Parent Ownership Group
| Tags: Valorant
| Author Sid
Sentinels’ ownership group have reportedly injected $3.4 million USD to the company as ‘additional capital.”
Through a press release on Monday, LA-based esports organization Sentinels revealed that the company is receiving a massive cash injection of $3.4 million USD as capital from its ownership group. This news follows right after Sentinels successfully raised $150,000 for the company through a crowdfunding campaign on StartEngine.
The October 30 press release revealed that the cash injection will enable Sentinels to “continue to conduct usual operations and expand to new esports endeavours.” reassuring fans that the organization isn’t going anywhere. The sizable cash injection will allow the LA Based organization to continue its operations, after earlier reports revealed that due to a lack of capital the org will only be able to operate for 2-3 months.
Happy to share with you all that the ownership group continues to be committed to the @Sentinels brand and the @Sentinels fan base. pic.twitter.com/wQpmoEOjHf
— Rob Moore (@robmooreEsports) October 30, 2023
Sentinels CEO Rob Moore revealed later that the crowdfunding campaign is simply an opportunity for fans to invest in their favorite Valorant organization and that they wanted to be as transparent as possible to their investors about the org’s current state. However, these revelations are now a thing of the past as the organization have received a sizable investment from their internal ownership group.
Sentinels came under fire by the VALORANT community, with multiple fans reportedly calling the organization “broke” after the brand revealed their financial troubles due to most of its capital and funds going to massive content creator and player salaries.
Sentinels to significantly improve the company’s “burn-rate”
The company also revealed that it has downsized its player expenditure due to ‘industry-wide reductions in player costs.” The crowdfunding campaign, however, ends on November 3 and fans can still get a piece of the org along with various other perks.
Sentinels have bet their next investment on funds generated through in-game cosmetics sales in its the organizations’ flagship competitive title, Valorant. More information about the same is said to be revealed early next year in 2024.
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With a Bachelor’s Degree in Journalism and Mass Communication, Sid has been writing about Esports since 2016. In times of crisis, Sid finds solace in movies and making art. Also, chocolate!