Live streaming has become an increasingly integral part of today’s competitive gaming landscape. One company, the Los Angeles-based Maestro, is seeking to capitalize on recent growth. The engagement and analytics platform secured $3 million in funding to expand its data-driven streaming engagement business.
Fresh capital for engagement tools
The funding round was led by Hersh Interactive Group, also a partaker in Fnatic’s $7 million funding round last year. Other investors that joined the funding round include Rubicon Venture Capital (a firm that has invested in Unikrn) and the Stanford-StartX Fund.
“Maestro’s rapid penetration within esports supports our thesis that publishers, leagues, and teams will increasingly look for ways to connect with their audiences through branded experiences they control,” HIG Managing Director Randy Chappel. “The product’s strategic design provides a framework for continued innovation and value creation to propel the industry forward as it evolves.”
The current funding round brings Maestro’s total raised capital to $5.8 million. The initial $2.8 million of seed funding included investors like 500 Startups, a global venture capital seed fund led by former Hulu executive Andrei Marinescu.
Enhancing the streaming world
It looks like the streaming experience of a simple video with a chat on the side is becoming a thing of the past.
Maestro’s platform helps amp up the standard streaming video experience by adding new features. Besides overlays and sidebars, its tools include real-time polls, commerce, contests, share prompts, and giveaways.
With more engagement from fans, Maestro’s database system aims to capture “robust” user data. The company plans to use this information for data-driven decisions regarding fan entertainment, as well as gathering useful viewership analytics.
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“As sophistication around streaming becomes the norm, the new metrics revolve around quality of interaction, retention, and attribution to the bottom line,” said Maestro CEO Ari Evans. “We’re excited to enable businesses around the world to create robust, long-term live streaming strategies through their own destinations.”
Maestro already has an impressive set of clientele, including Sony PlayStation, Microsoft, Pokemon, Warner Bros. Games, Electronic Arts, Capcom, Wargaming, ESL, Dreamhack, ELEAGUE, and more.
The company’s toolkit can also be applied to more than just gaming, and it currently collaborates with Adobe, the Grammy Awards, and the Coachella music festival.
ESL leveraged Maestro’s services at IEM Katowice
Maestro has already made moves in the esports industry. Last year, the company collaborated with ESL, the world’s largest esports company, for its IEM Katowice event.
“ESL has been an incredible partner and early adopter of Maestro, immediately grasping the vision and contributing meaningfully to the direction of the platform,” said Evans at the time. “We look forward to continued innovation in creating an immersive environment that encompasses all the ways fans want to engage with the content and community.”