Major League Gaming scores $10M in funding

Some gamers enjoy playing titles at their own pace, with minimal outside pressure to perform. But there's also a competitive slice of the gaming pie for those who strive for dominance. Now, a professional league for the latter group has more money to play with.

One of the world's most prominent professional gaming leagues, Major League Gaming, has announced it has struck an agreement to land $10 million in funding capital, scheduled to arrive in the league's coffers by the first quarter of 2011.

The investment initiative was led by Legion Enterprises, an investment firm that "invests in, acquires, and develops companies that create digital products appealing to the 16-24-year-old male demographic of digital mavericks." The additional investment brings MLG's funding total to $52.5 million.

"Over the last eight years, we have set out to build competitive gaming into a global, cross-platform business," said Sundance DiGiovanni, MLG's CEO. "And thanks to investments from companies like Legion Enterprises and Oak Investment Partners, that vision is well on its way to becoming a reality."

Additionally MLG claims it now reaches almost 4.5 million monthly users via its newly redesigned website and draws an average of 600,000 viewers during its Pro Circuit weekend events.