NEW YORK, Sept. 8, 2014 (GLOBE NEWSWIRE) -- Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a credit facility to new client Major League Gaming (MLG), the global leader in eSports. Proceeds will be used to supplement working capital as the company continues to expand its client base.
Based in New York and founded in 2002, MLG promotes eSports globally through premiere competition and broadcasts gaming content to millions of viewers worldwide through its premium video streaming platform - MLG.tv. MLG is one of the fastest growing digital networks worldwide with over 1700% growth in MLG.tv viewership from January to June 2014.
"We are happy to partner with Square 1 Bank and have them support our efforts as we continue to expand our leadership position in the evolving eSports industry," said Greg Chisholm, CFO of Major League Gaming.
"We are extremely proud to partner with a market leader like MLG," said Brad Ellis, senior vice president and managing director in Square 1 Bank's NYC technology practice. "The MLG team has built a phenomenal business with the entrepreneurial spirit that we love here at Square 1. The company had an early vision into the eSports market and we are excited to watch them continue to grow for years to come."
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Denver, Durham, Los Angeles/Orange County, New York, San Diego, Seattle, and Washington, DC. For more information, visit www.square1bank.com.
About Major League Gaming
Major League Gaming (MLG) is the global leader in eSports. The company operates MLG.tv, the premium broadcast platform for professional level competitive gaming, the MLG Pro Circuit, the longest-running eSports league in North America, and Gamebattles, the largest cross platform online gaming tournament system with 9 million registered users across the globe. MLG is one of the fastest growing digital networks worldwide with over 1557% growth in audience over the last four years. Each month, the company reaches millions of highly-engaged fans via web, mobile, connected TVs and gaming consoles making it the definitive property for major advertisers to reach young men (90% male, 50% 16-34 year olds, 76% 21+, and over 40% HHI $100k+). The robust MLG.tv programming line-up is available via www.MLG.tv, MLG.tv apps for iOS and Android and the MLG apps for Xbox One and Xbox 360. For more information: www.majorleaguegaming.com.