New York based Genvid Technologies, which develops interactive streaming technologies for game developers, media firms and sports broadcasters, announced another successful funding session.
The company raised $27 million in Series B funding, from several investors including new investors leader Galaxy Interactive, March Capital Partners, OCA Ventures, Makers Fund and Horizons Ventures, along with incumbent investors Valor Equity Partners and K5 Global.
Genvid allows content creators to build interactive projects across multiple streaming platforms like Twitch and YouTube, on multiple infrastructures (AWS, Azure) and on multiple game engines. Genvid’s tech has been utilized most recently on Global Offensive finals on Twitch, and various 5G showcases for Japanese telecom company NTT Docomo.
“We are already the standard toolkit for developers looking to bring rich, two-way, realtime interactivity to their games and broadcast,” says Genvid CEO Jacob Navok, in a statement. “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.”
Genvid plans to use the new funding to further grow the company’s SDK feature development, and end-to-end developer services platform for live, interactive projects. The company will also grow its business development efforts to media and sports.