Lightstream, a technology company that specializes in tech related to live streaming video, has raised $8 million in a Series A funding round.
Lightstream’s tech stack is geared toward content creators; in particular, video game players that increasingly turn to platforms such as Twitch and YouTube to play games while fans watch.
The company says it intends to use the $8 million investment to scale its business, develop new partnerships and launch new products and services.
The round is being led by Drive Capital, Pritzker
Group and MK Capital, and Silicon Valley Bank. The company has now raised $9.8 million in total.
The company entered into a partnership last year with Microsoft to integrate its technology into Microsoft’s streaming platform Mixer. Lightstream says the number of content creators using its technology quadrupled.
Live streaming video around video games has become one of the major growth stories for streaming video platforms. Platforms like Twitch, Mixer and YouTube have become a hot ed of investment for marketers looking to sponsor pro gamers or advertise on popular channels.
Increasingly, companies like Lightstream are trying to fill in gaps in the marketplace, providing back-end support for gamers and creators to improve the quality of their feeds.