Genvid Technologies, a US-based livestreaming technology provider, has secured $113m in a series C round featuring electronics manufacturer Samsung, mobile network operator NTT Docomo and livestreaming service Huya.
The round was co-led by Valor Equity Partners and Atreides Management and included Third Point Ventures, Cobalt Capital, LightShed Ventures, XN, Lux Capital, Galaxy Interactive, Horizons Ventures, OCA Ventures and Makers Fund, while Samsung and NTT Docomo invested through Samsung Ventures and Docomo Ventures respectively.
Founded in 2016, Genvid has developed streaming technology software for interactive entertainment and live events that is accessible through any connected device with no downloads or installation required.
The company builds massive interactive live events (MILEs) which are partly games and partly reality shows, allowing an audience of real people to influence artificial intelligence-equipped characters who that compete against each other.
Genvid works in partnership with technology, social media, gaming, film and television businesses. The financing will be used to establish Genvid Entertainment, a publishing subsidiary entirely dedicated to the creation of MILEs.
Cindy Holland, former vice-president of original content for streaming service Netflix, has taken an advisory role with the company and will assist it with content strategy and acquisition.
The total raised by the company has now reached $166m. It closed a $33m series B round in March 2020 that included Samsung Ventures, NTT Docomo Ventures, Huya, Galaxy Interactive, March Capital Partners, OCA Ventures, Makers Fund, Horizons Ventures, Valor Equity Partners and K5 Global.
The series B round was preceded by about $20m from investors including Makers Fund, March Capital Partners, Horizons Ventures and OCA Ventures, across seed and series A rounds from 2016 to 2018.