StreamElements, which develops interactive tools for managing communities and creating revenue for streaming content creators, today announced the completion of a $100 million financing round. The round was led by SoftBank with the participation of PayPal, MorTech and previous investors State of Mind Ventures (SOMV), Pitango First, Menorah Mivtachim and Mivtach Shamir. All the funds will be for investment with no secondary offerings from current shareholders.
StreamElements was founded in Israel in 2017 by Or Perry, president Doron Nir, CEO Gil Hirsch and CTO Reem Sherman in order to help content producers concert their passion into revenue generating work. To achieve this the company has developed tools in such areas as production, alerts, chat-bots, online stores, and tips. The company had previously raised $15 million.
StreamElements currently has 170 employees including 70 in Israel. The company has hired 100 of its employees over the past year. This latest financing round will speed up development of its tools, accelerate growth and allow the company to continue the expansion of its work force. As part of product development, the company will focus developing tools that will help content creators to increase their revenue in new ways with streaming and VOD platforms, and which will strengthen the connection between content creators and their communities and will encourage new talents to join and use the platform.
Published by Globes, Israel business news - en.globes.co.il - on September 22, 2021
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