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- Genvid Technologies secured a $27M USD Series B investment led by the merchant bank Galaxy Digital’s interactive content and technology space division, Galaxy Interactive.
- Other investors participating in the financing round include existing investors March Capital Partners, OCA Ventures, Makers Fund, and Horizon Ventures; as well as new investors Valor Equity Partners and K5 Global.
- The proceeds of the investment will be used to further accelerate the company’s software development kit (SDK).
Last week, streaming technologies developers Genvid Technologies announced it had raised a $27M Series B financing round led by New York-based Galaxy Interactive, the division of merchant bank, Galaxy Digital, that focuses exclusively on the fast-growing interactive content and technology space, with an emphasis on investments in video game studios, esports, and more.
All of Genvid’s existing investors (March Capital Partners, OCA Ventures, Makers Fund, and Horizon Ventures) participated in the Series B investment round. Additionally, new investors, Valor Equity Partners and K5 Global, joined the financing round.
Founded in 2016, Genvid offers a software development kit (SDK) for game developers to integrate their games and customize broadcasts of games. The technology has recently been used for Counter-Strike: Global Offensive broadcasts on Twitch and various 5G showcases for Japan’s mobile phone operator NTT Docomo.
Genvid explained that the proceeds of the Series B funds will be used to accelerate its SDK feature development further, as well as to build an end-to-end services platform for developers who need live operations, integration, and web development for their interactive streams. Additionally, the company will expand its business development efforts beyond the game industry into media and sports.
“We are already the standard toolkit for developers looking to bring rich, two-way, real-time interactivity to their games and broadcast,” said Genvid CEO Jacob Navok, in a release. “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.”
Furthermore, Genvid 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. The company has over 50 employees in six offices in New York, Montreal, Santa Monica, Irvine, Berlin, and Tokyo.
