Twitch Raises $20 Million to Build Ad Sales Team, Prep for New Consoles
Online gaming-video platform Twitch has received a $20 million Series C investment led by Thrive Capital, Westsummit Capital, and Take-Two Interactive Software. Also joining the Series C round are pre-existing investors Alsop Louie Partners and Bessemer Venture Partners. The various investors’ specific contributions were not disclosed.
Launching in 2011, Twitch has become the top platform for video game broadcasting. In addition to creator-generated live streams, the Twitch video platform hosts monthly global events such as the Dota 2 International Championship, which brought in over 4.5 million unique views in one weekend last August.
The funding will go into expanding the Twitch Media Group, the platform’s internal ad sales team. The ad force will further develop Twitch’s business strategy while also scaling to meet the site’s growing audience, which now tops 45 million unique visitors a month.
With the impending release of the Sony Playstation 4 and Xbox One, Twitch has stated that the $20 million investment will also go toward strengthening its infrastructure in preparation for the new consoles. As reported earlier this year, both the PS4 and Xbox One will feature built-in Twitch streaming capability.
According to Twitch COO, Kevin Lin, Twitch’s integration into next-gen consoles will remove the technological barriers that many casual video game broadcasters face and usher a new wave of e-sports fans and contributors.Tags: investment, Microsoft, series C, sony, twitch