Genvid Holdings Inc., parent company of Genvid Technologies LLC, a NYC-based provider of interactive livestreaming technologies and services, closed a $113m Series C funding round.
The round was co-led by existing investors Valor Equity Partners and Atreides Management with participation from new investors Third Point Ventures, Cobalt Capital, LightShed Ventures, XN, and Lux Capital, existing investors Galaxy Interactive, Horizons Ventures, OCA Ventures (via OCA’s new growth equity fund), and Makers Fund and strategic partners Huya, NTT DOCOMO Ventures, and Samsung Ventures.
Founded in 2016 by Jacob Navok, CEO, Genvid creates advanced interactive streaming technology and has pioneered Massive Interactive Live Events (MILEs). The Genvid SDK from Genvid Technologies LLC, available for free at www.genvidtech.com, is middleware with flexibility to run on any streaming platform and infrastructure.
The company, which has raised a total of $166m since its founding in 2016, intends to use the funds to establish Genvid Entertainment LLC, a new publishing subsidiary dedicated to producing Massive Interactive Live Events. Genvid Entertainment will produce and publish MILEs via licensing of major IP beginning later this year. Genvid has also launched a concept trailer hinting at what next-generation MILEs could look like, titled Project Raven.
In addition to the funding, Cindy Holland, former Netflix VP Original Content, an 18-year veteran of the company who founded and ran the original series and documentary initiatives for eight years, has joined Genvid in an advisory role, assisting with content strategy and acquisition.
FinSMEs
16/07/2021