Genvid Technologies, Inc., a NYC-based interactive streaming engine developer, closed a $10m funding round.
Horizons Ventures, the private investment arm of Mr. Li Ka-shing, led the round. In conjunction with the funding, Jonathan Tam of Horizons Ventures, will be joining Genvid’s Board of Directors.
The company, which intends to use the funds to grow its current stack of technologies, build new media, bespoke offerings and platform teams, 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.
Founded in 2016 and led by Jacob Navok, CEO, and Chris Cataldi, COO, Genvid provides an SDK for game developers to integrate into their games and allows game developers to make broadcasts. The Genvid SDK is a middleware, which runs on any streaming platform and infrastructure. As a result, livestreams can be monetized through transactions that are targeted to the individual watching, leading to revenue opportunities for game developers through sponsorships and in-stream purchases.
The first interactive streaming tools built specifically for game developers, the Genvid SDK be can downloaded for free at https://www.genvidtech.com