Twitch secures $20 million in Series C investment, Take-Two among investors
Twitch has closed its Series C round of investment, ending at $20 million. GTA 5 publisher Take-Two is among the investors.
GI.biz reports that the investment round was led by Thrive Capital, and saw funding from bodies including West Summit Capital, Take-Two Interactive Software, Alsop Louie Partners and Bessemer Venture Partners.
Together, the investors' $20 million proceeds will go to Twitch Media Group, the video service's internal advertising sales team.
In a statement, Twitch COO Kevin Lin said, "Gamers today have a healthy appetite for both producing and consuming live video game content, so it's vital that we're not only keeping pace with them, but staying one step ahead. With the investments from Thrive Capital, WestSummit Capital, and Take-Two Interactive, it ensures we can more effectively grow and tap into new markets.
"Given the excitement surrounding Microsoft and Sony's upcoming video game consoles, Twitch will be in a lot of living rooms this holiday season. Their intuitive and accessible integration of Twitch removes the barriers to entry which casual broadcasters currently face, so we expect traffic numbers to soar when these consoles launch. The trend of video game based content as entertainment is not only here to stay, it's becoming a critical part of the holistic gaming experience."
Twitch is a booming name in gaming today, with a reported 45 million unique visitors each month. Te service is now supported by several games and is embedded within PS4 and Xbox One consoles launching later this year.
Thrive Capital partner Chris Paik added, "Twitch is a company that we see riding multiple waves both in gaming and online video. By providing gamers a new way to express themselves, Twitch has built a strong, passionate and fast growing community around itself."
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