SANTA MONICA, Calif., Oct. 25, 2016 /PRNewswire/ -- Mobcrush, Inc., the mobile-first live streaming app and community for gamers, today announced it has completed a $20 million Series B fundraising round led by Los Angeles-based Evolution Media. Kleiner, Perkins, Caufield & Byers, which led Mobcrush's Series A financing in September 2015, also participated along with existing investors, including Raine Ventures, Lowercase Capital, First Round Capital and others.
The new infusion of capital brings the total raised by Mobcrush to $35.9 million since its founding in 2014.
Founding CEO Royce Disini said the company will use the financing to continue building Mobcrush's market-leading position in mobile-first game streaming, eSports and community, and continue to grow the platform's one million active users. The financing also will allow Mobcrush to continue to hire more engineers.
"Mobcrush is a technology and entertainment company at the epicenter of mobile gaming, live streaming, eSports and the creator-driven media revolution," Disini said. "No other company makes it as easy to live broadcast your mobile screen, whether it's on an iOS or Android device. This additional investment will enable us to exponentially expand our community of content producers and viewers globally."
Prior to Mobcrush, live broadcasting a mobile game required as many as 40 steps, additional hardware, and tethering to a computer. The Mobcrush app reduces that complexity to one tap and empowers content producers to share their mobile phone screen and camera from anywhere, without any additional hardware. For example, thousands of broadcasters shared their Pokémon GO adventures live on Mobcrush last summer.
"Mobile phones and tablets are increasingly becoming consumers' primary source of entertainment," said Salim Mitha, Partner at Evolution Media. "By focusing on seamless entertainment delivery from mobile devices, Mobcrush has anticipated this trend and is poised to change the way gamers consume and share content."
The Mobcrush app, which is available free on the Apple App Store and the Google Play Store, allows gamers to broadcast mobile gameplay, watch live and on-demand mobile gaming videos, and chat with other players.
Nearly five percent of Mobcrush users are content creators, more than twice as many as other gaming content platforms. These content creators are today's "digital stars" of the "GenZ" demographic of 13-24 year-olds who comprise Mobcrush's community.
Popular games on Mobcrush include Minecraft, Vainglory, Clash Royale and Pokemon GO. Critical Ops, a recently released mobile first person shooter, saw more than 5,000 broadcasts and more than 2 million minutes watched on Mobcrush prior to the game's release.
Mobcrush is a live streaming platform and community for mobile gamers, powered by one touch mobile broadcasting technology. Founded in 2014 in Santa Monica, CA, Mobcrush is the first company to enable screen capture and broadcast directly from a mobile device, which previously took over 40 steps on other video platforms. Since then, Mobcrush has been featured on stage by Apple, powered hundreds of thousands of mobile game broadcasts of titles like Pokemon GO and Clash Royale, and grown to over one million monthly active users.
The thirty person company has raised $35.9 million in venture funding from leading technology and entertainment firms, including Evolution Media, KPCB, Raine Ventures, Lowercase Capital, CAA Ventures, and others. The Mobcrush app is available on the App Store, Google Play, and Web.
About Evolution Media
Evolution Media (Evolution) is an investment company that partners with entertainment, lifestyle, media, sports, and technology companies. Leveraging relationships with its founding members— TPG Growth, Creative Artists Agency (CAA), and Participant Media—Evolution is uniquely able to identify companies that will disrupt and shape these industries. Based in Los Angeles, with offices in New York and Beijing, Evolution operates at key global intersections of entertainment and technology. Its portfolio spans a range of geographies and industries, including virtual reality companies such as Jaunt and Wevr, gaming platforms such as Scopely, leading content providers such as iFlix, and iconic consumer brands such as Fred Segal.
Learn more about Evolution at www.evolutionmediacapital.com/investment-company
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build and accelerate growth at pioneering companies like Amazon, Alphabet, Flexus Biosciences, Nest, Slack, Snap Inc., and Uber. KPCB offers entrepreneurs years of operating experience, puts them at the center of an influential network, and accelerates their companies from success to significance.
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SOURCE Mobcrush, Inc.