Swedish pro gamers Alliance have won Valve's third annual Dota 2 World Championship following a five-day undefeated run to the finals.

Alliance secured the US$1.44m (NZ$1.72m) by beating Ukrainian team Natus Vincere (Na'Vi) in a grand final that went all the way to a deciding fifth game.

It was the third consecutive grand finals appearance for Na'vi, who this year bagged US$632,000 (NZ$789,135) for their trouble. They won the grand prize at the first World Championship in 2011.

Last year's champions, Invictus Gaming, were eliminated in round four by fellow Chinese team TongFu. Third place went to Orange from Malaysia, who picked up almost US$290,000 (NZ$362,106).

The Championship, which is dubbed “The International”, took place in Seattle, Washington for the second year in a row.

Sales of Valve's interactive tournament companion, The Compendium, boosted the US$1.6m prize pool to over US$2.8m (NZ$3.5m).