BoomTV raises $10 million for its esports livestreaming platform

BoomTV raises $10 million for its esports livestreaming platform

BoomTV raised $ 10 million for its live broadcast platform to automate the production of eSports events. The company says it is much easier to watch and create online amateur esports events from any point of view that the viewer chooses, on any device.

Redwood City-based BoomTV has built a platform that allows organizers to create and manage their own events, especially small community events.

The company launched the BoomTV platform based on the Code Red pro-amateur esports series. Boom.tv wants to facilitate the production of high quality event productions and help the underserved community of civic groups, youth sports organizations and school clubs to share the competitions with their audience.

BoomTV manages a popular biweekly event series called Code Red, which reaches millions of monthly users. The best influencers participate from YouTube and Twitch, which helps him to accumulate tens of millions of minutes watched for his events. In addition, influencers used the platform to organize their own community gaming events each week.

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“The beauty of it all is that everything is virtual,” said CEO Samir Gupta in an interview with GamesBeat. “And no one really cares for the smaller communities. We have a long way to go, but it’s just a huge market. We have a lot of dynamism with what we were building, with a lot of influencers participating in the events. “

Previously, BoomTV acquired the American Video Game League in order to extend college e-sports. The AVGL is one of the largest producers of community events, content and community initiatives.

Gupta said the cycle was oversubscribed, which means the company has raised more money than it asked for. Bitkraft Esports Ventures led the round, with the participation of PTW and Crest Capital. The most popular games are League of Legends, Fortnite, and Call of Duty: Warzone.

Above: Samir Gupta is at the top left in this photo of the BoomTV team.

Image credit: BoomTV

The company will continue to invest in the Code Red ProAm series by raising prices and establishing long-term relationships with the game’s best influencers. It will also invest in original esports programs. In the past 12 months, the Code Red series has attracted an average of 2.7 million unique viewers and has more than 4 million fans on social platforms. Players have earned more than $ 3.9 million in cash from 11,000 events since the fall of 2018. Over 75,000 content creators and 1,600 college programs use Boom.tv.

In theory, a local YMCA group could challenge a local fire department in a Fortnite tournament to help raise funds for the group’s travel fund. They could jump on Boom to define the event, register players and activate score tracking. Parents, family members and community leaders could watch, share and support the cause.

These small-scale events are the backbone of the competitive gaming movement and Boom is dedicated to simplifying the hosting experience on platforms such as Mixer or YouTube.

The company has 24 employees. He earns money by sponsoring his biggest events. The pandemic has helped the business grow, as players are turning to the games while sheltering there.

“We are fortunate to be able to gain momentum now,” said Gupta.

In the past month, the company has recorded 11% audience growth and the growth of influencers has increased, said Gupta.

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