Australian esports organisation ORDER has raised AUD$5.3m (~£2.94m) from its latest funding round, with Jason Peterson, Managing Director of CPS Capital, and Gemelli Group Chairman Harry Karelis announced as investors.
Karelis has been appointed to ORDER’s board as a Director as a result of the investment.
According to the release, this is the largest private capital raise for an Australian and New Zealand esports organisation.
Gerard Murphy, ORDER’s Chairman, commented: “We closed out a combined $5.3m funding round, led by capital market investors like Jason and Harry, who recognise the opportunities available within the sector. This group brings both investment success and a wealth of experience taking early-stage businesses to the next level.
“The funding provides the capital to diversify our operations into the content and lifestyle space, while continuing to attract the best operational talent to support our aggressive growth strategy.”
Alongside the funding announcement, ORDER has also appointed Marc Edwards, formerly of Melbourne Football Club, as its new CEO.
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Speaking about his appointment, Edwards said: “I am excited to join ORDER at a time when the company and the industry is poised for significant growth.
“I could have continued to pay my dues in traditional sport, but chose to apply the skills and the experience from those roles to ORDER.”
The Australian organisation currently has rosters competing in VALORANT, CS:GO, and League of Legends. In March 2021, ORDER also expanded into Rainbow Six: Siege by signing Okami LFO’s roster.
ORDER has also announced plans to establish its own gaming facility in Collingwood, Victoria, which will be available to the organisation’s pro gamers, content creators and support staff.
Esports Insider says: Things were certainly up in the air for ORDER when Riot Games dissolved the Oceanic Pro League in 2020. However, the firm has managed to expand into other titles and develop its operations, whilst also returning to League of Legends through the LCO. This investment is a testament to ORDER’s ability to adapt and evolve as an organisation.