MLG Raises $7.5 Million

BY Andrew Miesner / January 8, 2009

Professional video game league Major League Gaming has raised another $7.5 million in financing. Reporting substantial growth in 2008, the new financing will help the league avoid any downtime in this economic recession.

The company’s sites hosted 4.4 million online matches in 2008 and received 7 million unique visitors each month, up 625 percent and 109 percent, respectively, from 2007. On average, 15,000 people attended each of the live competitions, and there’s a growing audience that wants to watch, even if it hasn’t exactly reached NFL or NBA levels. October’s Dallas Playoffs were the year’s high point, with 503,000 men under 30 watching online.

Founded in 2002, Major League Gaming previously raised $35 million. Oak Investment Partners, which led the startup’s $25 million second round, also provided this follow-on investment.

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