Oversubscribed Series B Funding Reaches $33 Million For a Total of $53 Million Raised to Date
NEW YORK, NY —Interactive streaming SDK developer Genvid Technologies today announced the addition of three new strategic investment partners: Huya, Inc., NTT DOCOMO Ventures and Samsung Ventures. These new partners will significantly advance Genvid’s vision to provide game developers worldwide with the most powerful interactive streaming capabilities available, and increase opportunities across new platforms as well as key geographies such as Asia. This brings the company’s oversubscribed Series B round to $33 million for a total of $53 million raised to date.
Additionally, Genvid announced that Jt Gleason, former head of developer relations at Twitch, has joined the company’s advisory board.
“These new strategic investors are the ideal partners to drive our expansion from not only a platform standpoint, but into key global geographies” said Jacob Navok, CEO of Genvid. “Samsung Ventures represents an opportunity to bring interactive streaming to TVs connected to mobile phones, while Huya will dramatically extend our reach in China and firmly establish Genvid as the ‘write-once, deploy everywhere’ solution for rich, synchronized interactivity. Huya’s strength in monetizing its content is significant, and will allow us to open up these opportunities and new revenue streams to developers. Lastly, we’ve already partnered with NTT DOCOMO on their 5G showcase at the 2019 Tokyo Game Show, and this investment is a reflection of our mutual desire to advance livestreaming capabilities via 5G initiatives. We are thrilled to align with these
incredible partners who share our vision.”
As one of the largest live-streaming services for games in China, and the investment arms of the largest telecom firm in Japan, and the world’s largest television set manufacturer, respectively, Huya, NTT DOCOMO Ventures and Samsung Ventures all see the enormous potential of interactive livestreaming to their businesses.
Additionally, by supporting Huya in its SDK, alongside Twitch and YouTube, Genvid will enable developers worldwide to deploy their games with fully integrated, interactive streaming to all three of the largest game livestreaming platforms simultaneously. This in turn will further open the Chinese market to western game creators.
“Genvid is the leader in interactive streaming technology for game developers worldwide and our partnership will drive opportunities around esports and new games built for streaming,” noted by Shirley Hua, head of strategy and investment at Huya, “Interactive streaming has high potential to attract more viewers through deeper and more creative engagement.”
“Genvid gives developers the powerful ability to implement true interactive streaming for multiple platforms and will lead the creation of brand new experiences in the whole digital entertainment industry, highlighted by our collaboration.” said Hiroyuki Sato, head of global partnerships and managing director of the Smart-life Planning department at NTT DOCOMO.
About Genvid Technologies
Genvid is helping put the “meta” in the Metaverse by creating the most advanced interactive streaming technology in the world. The Genvid SDK, available for free at www.genvidtech.com, is easy-to-use middleware with enough flexibility to run on any streaming platform and infrastructure. It integrates with games built on all of the leading engines and enables new kinds and levels of interaction and monetization from players and livestream audiences alike. Genvid was founded in 2016 by game industry veterans and is backed by Horizons Ventures, Huya, Makers Fund, March Capital Partners, NTT DOCOMO Ventures, OCA Ventures, and Samsung Ventures.
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