Investors are starting to take notice of esports streamers. The latest confirmation? StreamElements, a production platform for live streaming, with an emphasis on gaming, has raised $11.3 million in a new funding round.
The new round is being led by Pitango VC with participation from previous investors State of Mind Ventures, Rainfall VC, and Samsung Next.
StreamElements offers a full-service production stack for gamers and creators on YouTube and Twitch, the two most popular platforms for esports streaming. The platform includes visual tweaks, like themes and overlays, as well as monetization options, like tipping, an influencer-marketing team that connects users to brands and merchandising.
The company says it delivered more than $1 million to its creators last year through brand partnerships and $15 million through tipping. The company expects 2019 revenue to top $40 million.
StreamElements says that increasing its brand partnerships revenue will be a priority going forward.
To that end, the company hired Scott Clark as senior vice president-head of brand partnerships. Previously, the head of North American sales-brand partnerships for Innovid, Clark will be tasked with building out that business.
As Twitch and YouTube continue to grow in popularity with streamers and gamers, companies like StreamElements are finding room for middlemen to professionalize streams and help gamers monetize with minimal friction.