Twitch Raises $15 Million in VC FundingBy: Sean Patterson - September 20, 2012
Twitch, the leading online platform for streaming games and eSports events, announced this week that it has received a $15 million investment from venture capital firms during its latest funding round. Venture capital firm Bessemer Venture Partners provided the bulk of the funding, with Alsop Louie Partners and Draper Associates also participating the the round. Twitch stated that the investment will “accelerate the growth of Twitch’s engineering department.”
“We launched Twitch a little over a year ago, and already we have more than 20 million unique viewers per month,” said Emmett Shear, CEO of Twitch. “We have also partnered with more than 2,000 incredible broadcasters and have integrated our product with leading game publishers. “I’m very proud of our accomplishments, but there’s so much more to do. Our current team has put us at the forefront of the live video game streaming movement, and we can now invest aggressively to support our growing community with new ways to stream, watch, and chat.”
The growth of Twitch parallels the growth of the eSports market in general. Back in April Twitch partnered with CBS Interactive and Major League Gaming to provide eSports coverage. Over the past two years, games such as StarCraft II and League of Legends have garnered a large community of gamers willing to watch professionals play them. Riot Games, the developer behind League of Legends, announced last month that it will establish a professional eSports league for its game.
“Twitch is exactly the kind of company that we seek for investment,” said Ethan Kurzweil, vice president at Bessemer Venture Partners. “Twitch is not just a game changer: they created the game and are creating new experiences for their community. We’re looking forward to them accelerating their lead, and continuing to change the rules as they go.”