Live stream and video-on-demand services company StreamElements have received an investment of $100m through their latest funding round.
Founded with the goal of helping content creators to “turn their passion into a profession,” StreamElements have developed services and tools that aim to increase engagement and monetization on content.
To help accelerate their offering and fuel further growth, they went to market to find more investors and capital to inject into the company. Led by the SoftBank Vision Fund 2, they have raised $100m from new and existing investors.
The company will develop new tools for content production, engagement, and monetization with the funding as they aim to become the pre-eminent companion for creators.
📢Today we announced a new round of funding led by SoftBank Vision Fund 2. We're excited to continue the development of our industry leading creator offerings with more details in our post below ⬇️ https://t.co/xaUedrAxTw pic.twitter.com/UjkAt3fUDc
— StreamElements (@StreamElements) September 22, 2021
Tools and services provided by StreamElements include overlays, alerts, chat bots, merchandise stores, and tipping for those streaming video games and video on Twitch, YouTube, and Facebook. They plan to expand their focus to also include those uploading video on YouTube and streaming on Trovo.
They claim to be used by over 1.1 million content creators across the major platforms, according to a press release announcing the investment.
The venture capital arm of payment giants PayPal participated in the funding round, alongside MoreTech and existing investors such as State of Mind Ventures and Menorah.
“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 StreamElements CEO Gil Hirsch.
“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.”