eSports network Azubu raises $60 million

Azubu, a streaming entertainment network focused on eSports, today announced a substantial new round of financing totaling 55 million euros (about $60 million). This funding round was led by London-based Sapinda Group with contribution from Sallfort Privatbank of Switzerland. Azubu said the money will aid the company as it seeks to expand into new global territories and grow its next-generation platform, Azubu 3.0.

"We believe that the global eSports community deserves a broadcast and viewing platform that's designed specifically for their businesses," said Ian Sharpe, CEO, Azubu. "We are developing our technology in direct collaboration with the community and brand partners in order to provide the best possible, and crucially, most monetizable streaming experience."

"We are expanding operations in a number of new regions around the world and creating bigger and more content partnerships and corporate relationships, which we're looking forward to announcing in the near future," added Jason Katz, COO, Azubu. "This latest round of financing will support our global growth and expansion into 2016 and beyond."

The eSports streaming market, in large part thanks to competitors like Twitch, has been growing by leaps and bounds in 2015. Azubu noted that the live-video streaming market for eSports now reaches up to 100 million viewers per month "with no sign of slowing down and a clear path to further growth."

Azubu itself has seen its viewership grow by 1,200 percent in the last 12 months; the company credited its exclusive partnerships with some of the top teams and players in the world, including KeSPA and the 2015 World Champion SKT T1 team with its star Lee "Faker" Sang-hyeok in Korea, paiN Gaming and AD Felipe "brTT" Gonçalves in Brazil, and Berlin-based European team Origen, and its founder Enrique "xPeke" Cedeño-Martinez. Azubu recently was also awarded the exclusive streaming rights for UOL BoaCompra's eSports content in Brazil, including the XLG League.