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Cloud based streaming platform StreamElements has raised $100 million in funding to advance production, engagement and monetization features across its live-streaming and video on demand platforms.
Funding will also be used to attract new talent to the platform, which is in its fourth year of operation. Participating investors in the round include SoftBank Fund 2 and PayPal Ventures.
Leading the company — which has offices in Los Angeles, Palo Alto and in Tel Aviv, Israel — through this phase of growth will be co-founder Gil Hirsch, who will serve as CEO, with Yuval Tal as COO and Doron Nir as president.
“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,” said Hirsch, in a statement. “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.”
The company was founded by Nir, Hirsch, Or Perry and Reem Sherman with a mission to help content creators turn their passion into a profession. Among its projects, StreamElements last year unveiled a fund to assist Twitch creators from marginalized groups gain access to professional services to bolster their content creation.
An addition to Twitch, StreamElements works with creators on YouTube and Facebook Gaming and will look to expand services to live streamers on Trovo.
“YouTube currently has over 40 million active gaming channels, making it the largest gaming platform in the world,” adds Hirsch. “The bulk of this content are on demand videos which lack the real-time engagement functionality that has driven the success of the live-streamed market. We are focused on infusing on demand videos with dynamic interactive features to strengthen the communities around this type of content.”
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