Hitbox, home to millions of PC game live streamers and esports enthusiasts, revealed it successfully closed a $4 million growth round of investment to expand its North American operations and worldwide reach, as well as explore additional software innovations to expand their technological lead. The round was led by Vienna-based VC-firm Speedinvest and also includes leading free-to-play MMO developer and publisher, Wargaming; North Base Media; as well as angel investors. Sean Lee, Chief Strategy Officer at Wargaming will join the board of directors. This investment follows a seed round of $1 million from angel investors, which closed in 2014.
“Supporting live streaming for our games and fans has always been a key pillar in our strategy for growing our online presence,” said Sean Lee, Chief Strategy Officer at Wargaming. “Hitbox allows us to truly make live streaming an extension of Wargaming and our titles through the ability to integrate game data into the broadcast. Gamers will be able to share their experiences easier than ever before and our channels will have the robust infrastructure AAA gaming demands.”
Oliver Holle, CEO Speedinvest adds: “Esports is an exploding market and Hitbox is the top contender to win market share from previous monopolist Twitch and others. With Hitbox’s laser focus on the gaming community and its superior technology, we see nothing but growth.”
Martin Klimscha, CEO and co-founder of Hitbox adds: “While many of our peers thought there was no room for a new competitor next to the industry giants in this space, we were right to focus on technological innovation and foster a friendly and dynamic community of gamers, which has helped us to grow to more than 6 million dedicated fans in less than two years. We are huge fans of Wargaming, and we welcome them as an investor and partner who share our vision of taking video game livestreaming to the next level. Speedinvest has been an extraordinary partner since our initial seed round and this investment strengthens our relationship as we prepare to expand our operations and visibility.”
With the new round of funding, Hitbox is focused on continuing to deliver innovation in both technology and community-building efforts. This autumn, as the only live-streaming platform with 4K technical capabilities, Hitbox will be the first to begin broadcasting esports events in 4K at 60 fps. On the community front, Hitbox recently announced a new revenue-for-all model, which is driving broadcaster growth across all games and genres. Now all Hitbox broadcasters, no matter the size of their viewing audience, can participate in revenue sharing through video advertisements and viewer subscriptions.