26 November 2019:
Genvid Technologies Inc. has raised $27 million in Series B round of funding. The funding round was led by Galaxy Interactive.
Existing investors March Capital Partners, OCA Ventures, Makers Fund, and Horizons Ventures, and new investors Valor Equity Partners and K5 Global also participated in the funding round.
Sam Englebardt, head of Galaxy Interactive, will join Genvid’s board.
The company will use the fresh capital to further accelerate it’s SDK feature development, as well as build an end-to-end services platform for developers who need live operations, integration, web development for their interactive streams.
Additionally, the company will expand its business development efforts beyond the game industry into media and sports, since Genvid’s tech works as well with streaming video as it does with game-engine rendered content.
Jacob Navok, CEO, Genvid, said, “We are already the standard toolkit for developers looking to bring rich, two-way, realtime interactivity to their games and broadcast.”
Jacob Navok, added, “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 in partnership with Genvid, such as the metaverse-like experiences of Pipeworks Studio’s Project Eleusis.”
Sam Englebardt, head of Galaxy Interactive, said, “Galaxy Interactive and Genvid share the same vision. We are strongly aligned around the belief that interactive streaming will be integral to the next major expansion of the gaming market. Genvid’s technology will significantly grow the overall user base beyond traditional gamers themselves and unlock powerful new forms of content creation, consumption and monetization.”
Sam Englebardt, added, “I believe every company in our portfolio, especially those which are utilizing blockchain and other technologies for the creation and ownership of digital goods, will benefit tremendously from the way Genvid’s technology will marry their products to the rapidly expanding streaming content infrastructure.”
Matthew Ball, said, “The media industry has spent most of the last decade focused on shifting content online and figuring out how to charge for it. The next decade will be about reinventing this content and creating brand new formats native to digital delivery. Interactivity will be at the core of this opportunity. And Genvid will be one of the key enablers of and creative partners behind these experiences.”
Genvid also announced the establishment of its European office in Berlin for business development and technical support, and its live operations office in Irvine, California to oversee infrastructure for clients.
(Image – Genvid Technologies)