Medal.tv has today announced raising $60 million as it develops into a community platform for gamers.
The funding comes from two rounds: a previously unannounced Series B and a recent Series C.
The Series B round raised $15 million from Makers Fund, Horizon Ventures, Dune Ventures and more.
Meanwhile, the Series C raised $45 million with the leading investor being Omers Ventures; it was at this time that Medal’s COO Aurora Klæboe Berg became a member of the Board of Directors.
Livestreaming platform Rawa.tv was recently acquired to power a new Sessions feature in Medal 3.0 (the latest version of the platform with a focus on connecting gamers), and GifYourGame and Fuze.tv have been acquired to expand cloud rendering and clip editing capacities.
Medal intends to use its funds to make further acquisitions, expand R&D and entice talent to its social network.
Across mobile, PC and console, Medal.tv has grown its userbase to almost one million daily users and has a community that creates more than two million videos daily. More than one per cent of YouTube and Twitch content creators are also part of this community.
"The next wave of social networks is built around shared experiences - where you enjoy meaningful things with other people and create memories together while physically apart. We’re building the platform to enable that," said Medal CEO Pim de Witte.
"We believe that gaming will be the culture of the metaverse," Omers Ventures partner Henry Gladwyn commented.
"From our first conversation with Pim and the team it was clear that Medal would play a major role in making this happen – creating a link between gaming platforms and the games themselves. The company’s focus on simplicity and its users' needs has led to extraordinary traction to date and we look forward to what the future holds."
Montreal-based Mistplay recently revealed that GrowthCurve Capital will become its majority shareholder, following an investment for an undisclosed amount.