Game streaming website Twitch secures $20M Series C funding

If you don’t know it already, live broadcasting video games has become a lucrative venture for Twitch. Bolstered by the rise of eSports and a Youtube-minded generation of gamers eager to hold live broadcasts while playing their favorite games, the website entertains more than 45 million unique visitors per month. That demand has no doubt fueled the company’s successful $20 million Series C round, led by Thrive Capital.

This latest round follows a $15 million Series B in 2012, led by Bessemer Venture Partners. In just a year’s time, the company has seen a viewership boom, doubling last year’s traffic of 20 million monthly uniques. The money will go towards scaling the company’s sales division and infrastructure to cope with new users.

“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,” Twitch COO Kevin Lin said in a press release.

Started in 2011, Twitch (formerly TwitchTV) is a games-oriented offshoot of live streaming company Allowing all gamers with a webcam to stream their latest playthroughs, Twitch’s growth can also be attributed to its live events coverage for big eSports tournaments. The company has also secured partnerships with Sony and Microsoft to bring Twitch viewing and direct streaming to the Xbox One and PlayStation 4.