NEW YORK,
July 15, 2021
/PRNewswire/ -- Genvid Holdings Inc., parent company of Genvid
Technologies LLC, the leader in interactive livestreaming
technologies and services, today announced that it has closed a
Series C funding round of $113
million. Combined with previous financing, the company has
raised a total of $166 million since
its founding in 2016. Existing investors Valor Equity Partners and
Atreides Management co-led the round. New investors Third Point
Ventures, Cobalt Capital, LightShed Ventures, XN, and Lux Capital
participated in the latest round alongside Genvid's existing
investors Galaxy Interactive, Horizons Ventures, OCA Ventures (via
OCA's new growth equity fund), and Makers Fund. Strategic
investment partners Huya, NTT DOCOMO Ventures, and Samsung Ventures
are also participating.
The new funding will be used in large part to establish Genvid
Entertainment LLC, a new publishing subsidiary dedicated to
producing Massive Interactive Live Events, or MILEs, following
the success of the Genvid-enabled Facebook exclusive Rival
Peak, widely regarded as the first true MILE. Genvid Entertainment
will produce and publish MILEs via licensing of major IP beginning
later this year. Genvid today also unveiled a concept
trailer hinting at what next-generation MILEs could look like,
titled Project Raven.
In addition, 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.
"The success of Rival Peak has accelerated our plans and growth
dramatically, with dozens of major IP holders, streaming and social
media platforms, and other global brands seeking to create MILEs
around their properties," said Jacob Navok, CEO and co-founder of
Genvid. "They recognize the opportunity to build new entertainment
experiences that merge lean-back entertainment (TV and
livestreaming) with interactive entertainment (games) to both grow
fan bases substantially and further monetize existing fans. We're
excited to announce partners and IP licenses in the coming
months."
"Genvid has pioneered a groundbreaking media format with massive
potential, combining premium streaming entertainment and
multiplayer online gaming in an unprecedented way," said Valor
Equity Partners founder and CIO Antonio Gracias. "We are excited to
partner again with Genvid at this critical stage in the company's
growth as it forges new frontiers in the metaverse."
"Interactive media as we know it is evolving beyond video games,
and becoming a critical part of all entertainment content," said
Brandon Ross, General Partner at
Lightshed Ventures. "Genvid is a category-defining company
pioneering this new kind of storytelling that all major IP holders
and distributors will come to embrace."
About Genvid Technologies
Genvid Holdings, Inc. is
helping put the "meta" in the Metaverse by creating the most
advanced interactive streaming technology in the world and
pioneering Massive Interactive Live Events (MILEs), the next
frontier in interactive entertainment. The Genvid SDK from Genvid
Technologies LLC, available for free at www.genvidtech.com, is
easy-to-use middleware with enough flexibility to run on any
streaming platform and infrastructure. Any game developer anywhere
can build their own Rival Peak-like experience with Genvid's
SDK. Genvid Entertainment LLC is the first publisher devoted to
bringing MILEs to market, combining globally renowned IP with
best-in-class development, production and marketing. Genvid was
founded in 2016 by game industry veterans and is backed by Valor
Equity Partners, Atreides Management, Horizons Ventures, Makers
Fund, March Capital, OCA Ventures, Galaxy Interactive, Third Point
Ventures, Cobalt Capital, LightShed Ventures, XN, and Lux Capital,
as well as strategic investments from Huya, NTT Docomo Ventures,
and Samsung Ventures.
The Genvid SDK is Copyright 2016-2020 Genvid
Technologies LLC. All Rights Reserved.
Genvid Press Kit
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SOURCE Genvid Technologies, Inc.