Israel-based livestreaming platform developer StreamElements has secured $11.3m in a series A round that included Samsung Next, a corporate venturing vehicle for consumer electronics producer Samsung.
Pitango Venture Capital led the round, which featured fellow venture capital funds State of Mind Ventures and Rainfall Venture Capital, investment firm Mivtach Shamir and undisclosed additional investors.
Founded in 2016, StreamElements has created a platform that helps users produce and monetise livestreaming content through portals such as YouTube and Twitch. It is used by brands, media agencies, talent agencies, eSports teams and publishers to run global marketing campaigns and live stream sponsorships.
The company has already partnered companies like Red Bull, Sennheiser, Warner Brothers, Trojan and 7-11 on marketing campaigns and intends to use the series A funding to expand its global brand partnership team.
Or Perry, co-founder and chief streamer officer for StreamElements, said: “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.
“We are here to close this gap and help these talented creators materialise their full potential with our extraordinary level of service and the best production tools on the market.”
The company referred to Samsung Next, State of Mind Ventures and Rainfall VC as previous investors but has not disclosed details of earlier funding.