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Streaming startup Genvid nets $27 million to expand 'dev-grade' broadcasting platform

Streaming startup Genvid nets $27 million to expand 'dev-grade' broadcasting platform

November 28, 2019 | By Chris Kerr

November 28, 2019 | By Chris Kerr
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More: Business/Marketing

Game streaming startup Genvid has secured $27 million in Series B funding to create new tools for its "developer-grade" broadcasting platform and hire more staff.

As reported by VentureBeat, the funding round was led by Galaxy Interactive and means the company has raised $47 million since 2016. 

Genvid claims its tech will help game developers facilitate more interactive game streams by giving them the ability to deploy spectator cameras, enabling different forms of fan-to-fan and fan-to-play communication, and giving viewers more ways to tailor their own experience. 

The company will specifically use the cash to accelerate development of the Genvid SDK, create an end-to-end services platform for devs who need live operations, integration, and web development support, and start expanding beyond the world of video games into the wider media and sports industries.

"Interactive streaming is really the merger of video games and traditional media," commented company CEO, Jacob Navok. "We’re enabling every individual viewer to have their own unique interactive layer. If they want to watch a certain player on an esports team, they can do so. 

"We've also been building a backend suite of tools that allows the developer create or to manage that instance, deploy it once and take it cross platform. Our core tools will continue to improve as new features are added to take advantage of 5G, growth in interactive television, and to support the many new digital media formats being created by independent developers."

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