– USA, NY – Genvid Technologies, Inc., the interactive streaming engine developer, today announced the closing of a new round of funding from Horizons Ventures, the private investment arm of Mr. Li Ka-shing.
A total of $10 million was raised in this new financing round. Genvid has raised $20M to-date, with its Series A having been announced in April 2018.
The funds will be used to triple the company’s growth in the next two years; enabling Genvid to grow its current stack of technologies as well as build new media, bespoke offerings and platform teams. Furthermore, the company will continue its international and vertical expansions, moving beyond esports into mobile, arcade and VR gaming across the US, EU, Japan and China, as well as new opportunities in real sports and the wider media.
“Customer interest in our solutions is growing every day,” says Jacob Navok, CEO of Genvid. “Our patented, cross-platform interactive streaming engine can be used directly on popular platforms like Twitch, and across infrastructures and engines such as AWS, Unreal and Unity. And we are thrilled to bring on Horizons Ventures, whose tremendous track record among investments includes Facebook, Siri, Zoom, Waze, Spotify and now Genvid.”
“Game broadcasting brings about a surging opportunity for media, telecom, and sports industries,” says Jonathan Tam of Horizons Ventures, who will be joining Genvid’s Board of Directors. “We feel that the unparallel interactivity and real-time composition capability of Genvid’s technology will bring a new kind of streaming experience for the 2 billion gamers worldwide.”
Genvid is also announcing the establishment of Genvid Technologies Japan K.K., the company’s latest international expansion located in Tokyo, Japan. Genvid’s technology has proven tremendously popular among Japanese developers and media companies, and the new subsidiary will be growing staff to market and support the activities.
Already an early September 2018 tournament for esports title Blitz Freak in the Red Bull Gaming Sphere Tokyo arena using Genvid’s technology and benefitting from the Genvid/Unity deal has been announced by ActEvolve, a Japanese indie game developer using Unity.
Genvid’s Japan office joins its existing New York headquarters and its Montreal development hub (Genvid Technologies Canada Inc.) Genvid is actively exploring its next set of expansions, expected for Europe in the next year.
About Genvid Technologies
Founded in 2016 by game industry veterans and backed by Horizons Ventures, Makers Fund, March Capital Partners and OCA Ventures, Genvid provides an SDK for game developers to integrate into their games and allows game developers to make revolutionary broadcasts. The Genvid SDK is a simple-to-use middleware, flexible enough to run on any streaming platform and infrastructure that developers want to support. As a result, livestreams can be monetized through transactions that are uniquely targeted to the individual watching, leading to a significant revenue opportunity for game developers through sponsorships and in-stream purchases.
For more information : http://www.genvidtech.com
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