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Genvid Technologies raises $27 million to fund new streaming engine

Building more tools
Genvid Technologies raises $27 million to fund new streaming engine
Date Type Companies Involved Size
Nov 27, 2019 investment Galaxy Interactive Genvid Technologies Makers Fund $27m
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Genvid Technologies has raised $27 million to help fund its new game streaming engine.

This now brings the total amount raised for the streaming tech to $47 million.

As reported by Venturebeat, Galaxy Interactive led the round with head of the company Sam Englebardt joining the Genvid board effective immediately. 

Existing investors such as March Capital Partners, Horizons Ventures, OCA Ventures, Makers Fund all participated in the funding round, while new investments came from Valor Equity Partners and K5 Global

Funding raised will be put towards accelerating Genvid’s SDK feature development, and an end-to-end services platform for developers that will run live operations, help with integrations and web development for interactive systems.

Furthermore, the investment will help Genvid expand and target the technology at media companies and sports broadcasters.

“New experiences”

“From the very beginning, we were talking about building tools for video game developers to create new experiences over streams,” said Genvid Technologies CEO Jacob Navok

“We started with esports, and we showcased new content at the Game Developers Conference this year. New games with new engines that are being built on top of Genvid. We are investing in tools for them so we can further accelerate our growth.”

Englebardt added: “Genvid’s technology will significantly grow the overall user base beyond traditional gamers themselves and unlock powerful new forms of content creation, consumption and monetisation.”

Previously the company announced at GDC 2019 that it would partner with developers to introduce new interactive games for streaming.