NEW YORK--(BUSINESS WIRE)--Interactive streaming engine developer Genvid Technologies, Inc. today announced the closing of its Series A round of financing, led by game industry veteran Jay Chi’s Makers Fund. A total of $6 million was raised and fully subscribed by Makers Fund and Genvid’s existing investors, March Capital Partners and OCA Ventures.
Series A Round
The funds from Genvid’s Series A will fuel the international expansion of the company’s existing pipeline of developers, expanding from 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.
“We have seen tremendous demand for our solutions,” says Jacob Navok, CEO of Genvid. “Our patented interactive streaming engine can go across platforms, from Twitch to YouTube, and across infrastructures and engines such as AWS, Unreal and Unity. And we are thrilled to bring to our board Jay Chi, whose vision for the future of interactive media aligns perfectly with ours.”
“Streaming is one of the biggest growth engines for gaming; enabling two-way interaction between viewers and streamers is where the industry is headed, and we’re excited to partner with Genvid, who are leading that revolution,” says Jay Chi, Founding Partner of Makers Fund.
New Games Announced at GDC
At last week’s Game Developers Conference in San Francisco’s Moscone Center, Genvid showed publicly for the first time its integration for Counter-Strike: Global Offensive. The product was built in partnership with esports analytics company StatsHelix.
Genvid also showcased its integration with Killer Queen arcade developer BumbleBear, including game cabinets available at Genvid’s booth, and Japanese VR developer ActEvolve with their new 3v3 multiplayer VR game Blitz Freak, where attendees were able to play and interact as the viewers in the stream could drop bombs into the VR game in real-time.
Finally, Genvid showcased its new Genvid Studio, a composition tool now available in the Genvid SDK, which offers developers and broadcasters even more ways to enhance their livestreams in real-time. With the Genvid Studio developers can watch multiple source cameras live, and edit them by mixing audio, video, effects, PiP and more.
Genvid has an expanded lineup of ongoing game integrations, ranging from indie to AAA titles, that will be announced soon.
About Genvid Technologies
Founded in 2016 by game industry veterans and backed by Makers Fund, March Capital Partners and OCA Ventures, Genvid provides an SDK for game developers to integrate into their games and allows game developers to make revolutionary broadcasts. The Genvid SDK is a simple-to-use middleware, flexible enough to run on any streaming platform and infrastructure that developers want to support. As a result, livestreams can be monetized through transactions that are uniquely targeted to the individual watching, leading to a significant revenue opportunity 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.
The company’s name is a fusion of two Latin root words, Gen meaning “birth” and Vid meaning “viewing”; reflecting the company’s mission to power a new era of interactive streaming experiences.
A media kit for this release, including screenshots, is available at https://www.genvidtech.com/gdc2018mediakit.
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