The company that provides live streaming and video-on-demand services StreamElements has acquired a $100 million investment in its current funding round.
StreamElements was founded with the intention of assisting content creators in turning their passion into a job, and has developed services and technologies aimed at increasing content engagement and revenue. They went to market to find new investors and funds to inject into the firm to help accelerate their offering and fuel further growth. They have raised $100 million from new and existing investors, led by the SoftBank Vision Fund 2.
With the money, the company plans to build new tools for content creation, engagement, and monetization in order to become the preeminent partner for creators.
Overlays, alerts, chat bots, merchandise stores, and tipping are among the tools and services offered by StreamElements to people streaming video games and video on Twitch, YouTube, and Facebook. They intend to broaden its scope to include people who post content to YouTube and stream on Trovo.
According to a press release announcing the investment, they are used by over 1.1 million video creators across all major platforms. MoreTech and current investors such as State of Mind Ventures and Menorah participated in the investment round, as did PayPal’s venture capital arm.
StreamElements CEO Gil Hirsch said in a statement; “Since launching StreamElements in 2017, it has become the leading platform in the creator economy by building great products and providing legendary service to content creators of all sizes while helping them collectively generate over a hundred million dollars. With this additional funding we are bolstering our staff to strengthen and broaden our ability to enable content creators across multiple platforms to make a living doing what they love.”
