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Twitch secures $20M investment to prepare for PS4, Xbox One

Samit Sarkar (he/him) is Polygon’s deputy managing editor. He has more than 15 years of experience covering video games, movies, television, and technology.

Twitch, the gaming-oriented online video platform, has secured a $20 million Series C investment from venture capital firms Thrive and WestSummit as well as publisher Take-Two Interactive, Twitch announced today.

This latest round of funding follows a $15 million Series B investment from Bessemer Venture Partners in September 2012.

According to Twitch, the new investment will allow the company to expand its ad sales division and prepare its infrastructure for the upcoming launches of the PlayStation 4 and Xbox One, both of which feature Twitch integration for video sharing and livestreaming.

"Given the excitement surrounding Microsoft and Sony's upcoming video game consoles, Twitch will be in a lot of living rooms this holiday season," said Kevin Lin, chief operating officer at Twitch, in a press release today. "Their intuitive and accessible integration of Twitch removes the barriers to entry which casual broadcasters currently face, so we expect traffic numbers to soar when these consoles launch."

Twitch will also use the funds to continue expanding and improving its video delivery infrastructure, and to grow its partnerships with video game publishers and platform holders.