(Yicai Global) Oct. 20 -- Zhongyu Media Co. (Zhongyu Media) has raised USD7.6 million (CNY50 million) in series A funding, with the proceeds to go to developing its business and expanding its team.
After the financing, the company will accelerate to develop its business, further cooperate with partners and grow its team, as well as elaborating the process of cultivation and management, Zhongyu Media founder Wan Wenyu said today. It will also up its brand promotion, advance and implement the Business College for Online Artists in 100 Cities project while integrating with more premium livestreaming brokerage companies and teams to expand its market share, sina.tech.com.cn reported.
Formed in 2013, Zhongyu Media is a comprehensive livestreaming brokerage which develops various businesses such as interactive livestreaming, entertainment livestreaming and online pponents for gamers. With livestreaming artists at the center, the company forms a business position with a strong artistic orientation, online livestreaming, offline training and offline performances.
Zhongyu Media has already signed contracts with nearly 40,000 internet artists and tens of thousands of online companions for players, and employed hundreds of senior brokers and operation managers. Its running account reached nearly USD45.45 million (CNY300 million) last year, and is expected to hit CNY450 million this year to achieve its fourth consecutive year of growth at a rate of at least 100 percent.