Chess.com has announced a new investment from CVC Capital Partners. The private markets firm joins existing investor General Atlantic as the platform enters its third decade.
The investment was announced on Thursday. Chess.com founder and CEO Erik Allebest said the company remains focused on growing the game and serving the global chess community.
"Twenty years ago, we set out to build a space for people who love chess," Allebest said. "We see CVC as an incredible partner who, alongside General Atlantic, can help us continue driving this same mission into our third decade."
Nick Clarry, Managing Partner and Head of Sports, Media & Entertainment at CVC, noted the cultural importance of chess. CVC will work with Chess.com to develop its platform using expertise in media rights and sponsorships.
Since General Atlantic's 2022 investment, Chess.com has grown to more than 265 million members and 10 million daily active users. Financial terms of the new transaction were not disclosed. General Atlantic reaffirmed its commitment to the company.