Live-streaming and video creation platform StreamElements lands $11.3 million Series A to accelerate growth and increase live video for streamers, content creators, and brands
StreamElements, a live-streaming and video creation platform used by streamers to broadcast their gameplay, has secured $11.3 million in Series A funding round.
The platform offers live video content creators the tools they need to engage, grow and monetize their audience.
The company grew its user base by more than 600% and is forecasting growth to exceed $40 million in 2019.
The platform already serves over 200K monthly-active-channels on Twitch and YouTube, serving more than 15 million viewers who watch over 12 billion minutes each month.
Live-streaming and video creation platform StreamElements has closed $11.3 million its Series A funding round to support expansion and develop new tools to increase live video creator fame and fortune through production, merchandising, media, and brand partnerships. The funding round is led by Pitango VC, with participation from previous investors State of Mind Ventures, Rainfall VC, and Samsung Next, among others.
The new funding comes on the heels of a year of tremendous growth for StreamElements, in which the company grew its user base by more than 600%. Donations to streamers grew to $15M and $1M delivered through brand partnerships. Based on the company’s current growth trajectory, StreamElements expects creator revenue to exceed $40M in 2019 alone. By the end of 2019, StreamElements predicts that it will become the dominant streamer production platform on Twitch.
Founded in 2017 by Doron Nir, Gil Hirsch, and Or Perry, the Silicon Valley and Tel Aviv, Israel-based StreamElements platform offers its users the tools they need to engage, grow and monetize their audience with focus on three major areas: production (such as overlays and chatbots), monetization, brand sales, and technical support. By automating these processes, StreamElements is the fastest growing live stream production platform. It offers a full production-technology and business stack with technical and customer support. To date, the platform serves over 200K Monthly-active-channels on Twitch and YouTube, serving more than 15 million viewers who watch over 12 billion minutes each month. Some of the world’s top streamers, including Shroud, TimTheTatMan, SodaPoppin and Casey Neistat use StreamElements to enhance their live stream capabilities. Leading consumer brands such as Red Bull, Razer, AMD, NVIDIA and more also trust StreamElements to power their Twitch channels.
“Since our launch 18 months ago we proved that a full stack production and revenue generation platform is what live-streaming and e-sports really needs,” said Doron Nir, CEO of StreamElements. “This new funding round shows what people in our industry already know – this is the next frontier for online media. Its growing faster than anything we’ve seen, and the level of passion of the audience is unparalleled to anything else video entertainment has to offer.”
Or Perry, Co-Founder and Chief Streamer Officer added, “Live video content creators are some of the hardest working people in showbiz. They have massive audiences, huge followings, yet they make less than 20% of their true revenue potential. We are here to close this gap and help these talented creators materialize their full potential with our extraordinary level of service and the best production tools on the market.”
StreamElements and its creator community partnered on successful marketing campaigns with companies like Red Bull, Sennheiser, Warner Brothers, Trojan, 7-11 and more. With this new funding, StreamElements is growing its global Brand Partnership team and is announcing the hire of Scott Clark as SVP, Head of Brand Partnership. Mr. Clark has more than 20 years of digital media experience, most recently leading North American sales and brand partnerships at Innovid, a leading video ad technology company.
“Brands are struggling to reach Millennials and Gen Z consumers through traditional advertising. This group represents major buying power and cultural authority, yet ad blocking is high, cable subscriptions are low, and media is extremely fragmented. Live streaming content, particularly in gaming and eSports, is fast becoming the entertainment vehicle of choice. By partnering with live streamers and their communities, brands see tremendous value and impact, well beyond that of traditional digital media and influencer marketing,” said Mr. Clark.
“As influencer marketing continues to be a key strategic pillar for our clients – we are always looking to find new and effective ways to engage communities and drive business results. StreamElements provides an innovative end-to-end solution that allows us to interact with our communities in a meaningful way at scale,” Keith Bishop, Vice President – Media, Liquid Advertising.
Mr. Clark added, “The live streaming ecosystem on Twitch, YouTube and other channels is experiencing massive growth in audience, time spent, and content. Brands need to expand the scope of their influencer marketing initiatives to explore integrated sponsorships and advertising options with this community. StreamElements provides the standardization, service, scalable deployment, and accountability that brands and industry partners should expect.”