US-based streaming technology developer Genvid Technologies has increased its series B round to $33m, adding $6m from mobile network operator NTT Docomo, electronics manufacturer Samsung and livestreaming service Huya, VentureBeat reported yesterday.
NTT Docomo and Samsung invested through respective corporate venturing subsidiaries NTT Docomo Ventures and Samsung Ventures.
The $27m first tranche in November 2019 was led by Galaxy Interactive, an investment arm of merchant bank Galaxy Digital, and included March Capital Partners, OCA Ventures, Makers Fund, Horizons Ventures, Valor Equity Partners and K5 Global.
Genvid has developed middleware – a type of software that sits between the operating system and an application – that facilitates the monetisation of video game and eSport-focused livestreams on online platforms YouTube and Twitch.
The technology helps streamers secure sponsorships and enables viewers to make in-stream purchases. It also promotes interaction by enabling viewers to influence a player’s experience.
Huya is forming a strategic partnership with Genvid to explore opportunities around eSports and games that have been specifically developed for streaming, and Genvid will use the partnership to tap into the Chinese market.
JT Gleason, head of developer relations at Twitch until December 2019, has joined Genvid’s advisory board.
The company has now raised $53m in equity financing since it was founded in 2016. March Capital Partners and OCA Ventures supplied $1.5m in seed capital in 2016 before returning for a $2.5m second seed round the following year.
Makers Fund led a $6m series A round for Genvid in March 2018 that also featured March Capital Partners and OCA Ventures, before Horizons Ventures injected $10m in funding five months later.
