StreamElements, a live video creation platform company, has raised $11.3 million in Series A funding to expand its platform for live-streaming. This round of funding was led by Pitango VC. Previous investors State of Mind Ventures, Rainfall VC, Samsung Next and several others also participated in this round.
This round of funding comes on the heels of StreamElements growing its user base by over 600%. Donations to streamers grew to $15 million and $1 million has been delivered through brand partnerships. And StreamElements is expecting creator revenue to exceed $40 million this year itself.
Currently, the platform is used by more than 200,000 monthly active live channels on Twitch and YouTube Live — which serves more than 15 million viewers who watch over 12 billion minutes each month. By the end of the year, StreamElements is expecting to become the dominant streamer production platform on Twitch.
Founded in 2017 by Or Perry, Doron Nir and Gil Hirsch, StreamElements attributes its growth due to its position in the industry as a full-stack solution that was built to address the key components of helping streamers grow their reputation and revenue. This includes themes, overlays, customizable alerts, loyalty programs, and Chat Bot community engagement.
“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 StreamElements CEO Doron Nir in a statement. “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.”
And StreamElements also offers custom merchandising and brand partnerships. And it has a dedicated brand sales and service team to provide content creators an opportunity to work with global brands for engaging influencer marketing campaigns. StreamElements and its creator community have partnered on successful marketing campaigns with companies such as Red Bull, Sennheiser, Warner Brothers, and 7-11.
“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,” added StreamElements co-founder and chief streamer officer Or Perry. “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 is also growing its global Brand Partnership team and recently announced the hiring of Scott Clark as SVP of Brand Partnership. Clark has worked in the digital media experience space for more than 20 years. And his most recent experience was leading video ad technology company Innovid.
