Parsec, a platform that allows users to remotely access virtual machines and their powerful PCs from any device without any noticeable latency, has been acquired by Unity Technologies, a publicly traded platform for creating and operating real-time 3D content. The transaction is structured as an all-cash deal totaling $320M. “
Gaming
Genvid Technologies Raises $113M to Create a New Category of Entertainment: Massive Interactive Live Events
When the live game-show HQ debuted in 2017 it was an instant hit with millions of users signing on concurrently to take a chance at winning in trivia. Although the company did not ultimately survive, the success of a new form of interactive entertainment did not go unnoticed. This NYC startup takes it a step further by focusing on the intersection of gaming, streaming, game shows, and broadcasting. Genvid is a technology infrastructure provider and now publisher focused on what the company calls massive interactive live events (MILEs). The company initially focused on building infrastructure tools for interactive streaming but saw there was a significant opportunity on the publishing side. For its first experience, it partnered up with Pipeworks Studios for Rival Peak, a 24/7 interactive reality show with AI characters participating in an elimination-style competition that was broadcasted on Facebook. Following the popularity of this new format, the company is now planning on building more MILEs both internally and with licensed IP owners as partners. Genvid will also continue to provide the infrastructure tools through its SDK for others to build their own MILEs.
AlleyWatch caught up with Cofounder and CEO Jacob Navok to learn more about the inspiration for the business, how the company has created a new category of entertainment, strategic plans, and latest round of funding from investors that include Valor Equity Partners, Atreides Management, Galaxy Interactive, Horizons Ventures, OCA Ventures, and Makers Fund, Valor, Atreides, Third Point, Cobalt Capital, LightShed Ventures, XN, and Lux Capital.
Allstar Raises $3.85M to Let Gamers Become Content Creators and Capture Their Favorite Gaming Moments
The average gamer spends eight hours and 27 minutes playing games, which represents a 14% increase over 2020. User-generated content platforms like Youtube, TikTok, Facebook, Instagram, Snapchat, etc. have led to the meteoric rise of new media creators. Allstar sits at the intersection of these two prominent trends. It’s a platform built for gamers that allows them to capture their favorite gaming moments, distribute this content, and build followings. Allstar is completely cloud-based without the need for any specialized or costly hardware and is currently offered as a freemium product with premium features coming soon. It currently supports CS:GO and Dota 2 with titles like Fortnite, League of Legends, Rainbow6, and Valorant in the roadmap. AlleyWatch caught up with CEO and Cofounder Nick Cuomo to learn more about how his experience as a gamer led to the vision to turn gamers into content creators, the company’s strategic plans, recent round of funding from investors that include New York Angels, Studio.vc, J-Ventures, and Emerging Ventures, Harvard Business School Alumni Angels of Greater New York, Miami Angels, Gaingels, Sand Hill Angels, and several individual investors.
Jackpocket Scores Another $50M to Make Playing the Lottery as Easy as a Few Taps on Your Phone
The lottery is the most popular form of gaming with 49% of adults reporting buying a lottery ticket. For states, the lottery serves as a source of revenue to fund public education budgets, veteran services, infrastructure, and other public works. Jackpocket, founded in 2013, partners with official state lottery retailers and offers the players the convenience of getting in on the action from their phones, get automated alerts when they win, and even collect via the phone. Jackpocket, founded in 2013, partners with official state lottery retailers and offers the players the convenience of getting in on the action from their phones, get automated alerts when they win, and even collect via the phone. The company currently services eight states with plans to expand to new markets. The service went live in New York last month and is already responsible for 7% of all Powerball tickets sold in the state. Despite the pandemic slowing down the overall lottery market, Jackpocket grew 4x in 2020 and now employes a team of 175. AlleyWatch caught up with Founder and CEO Peter Sullivan to learn more about the $80B lottery industry’s push to go mobile, the company’s traction, future plans, and latest round of funding from investors that include Greenspring Associates, Gaingels, The Raine Group, David Blitzer, BRV Capital, Tegna, Circle K Corporation, and Sean Hayes.
Parsec Raises $25M to Ensure You Can Connect to Any Computer in the World Remotely
Remote working has become the new normal but for some professions, having access to the powerful computing systems found at the office is difficult to replicate. Parsec is a platform that allows users to remotely access virtual machines and their powerful PCs from any device without any noticeable latency. The company got its start in gaming, where it was popular with gamers that wanted to play on the go, but since the pandemic, the technology is being used by animators, game developers, engineers, or anyone that needs enhanced processing power remotely. AlleyWatch caught up with Cofounder and CEO Benjy Boxer to learn more about the impact the company’s technology has had on working remotely, the company’s expansion plans, and latest round of funding from investors that include Andreessen Horowitz, Makers Fund, Notation Capital, NextView Ventures, and Lerer Hippeau.
Bunch Raises $20M for Integrated Video Chat for Gamers That’s Grown 50x During the Pandemic
COVID-19 has left us longing for human connection even if it’s through video chat. This is no different for gamers. Multiplayer games are the new social networks. And in these trying times where we are isolated from each other, games are how people are choosing to spend time with friends. Bunch, is an integrated video chatting app that allows gamers to video chat in real-time with fellow gamers and friends. CEO and Cofounder Selçuk Atli walks us through how the company has grown the user base 50x since March and the company’s $20M Series A round from investors that include General Catalyst, Electronic Arts, Krafton (PUBG), mixi, Take-Two Interactive Software, Ubisoft, Supercell, Riot Games, Miniclip, COLOPL, LVP, Northzone, Streamlined Ventures, Konvoy Ventures, OneTeam Ventures, Velo Partners, Golden Venture Partners, and Alven Capital Partners.
Ergatta Raises $5M to Fuse Rowing Machines with Competitive Gaming to Improve At-Home Fitness
“Investors don’t like hardware, and rowing can be perceived as a niche interest. We had to respond to concerns like ‘what if Peloton copies your content,’ and manage the difficulty of effectively demo-ing our product given that it’s a large piece of hardware and COVID-19 made transporting the rowers a bigger challenge.” Learn more about how Tom Aulet of Ergatta, a connected fitness startup that offers elegantly designed in-home rowing machines with a gamification element, was able to successfully raise $5M for the company during the pandemic from investors that include Greycroft and Techstars.
What Brands Need to Know About Esports
As we navigate this new landscape of work and business post-corona, esports is one of the many industries that’s being heavily impacted. In my opinion, this is going to be a watershed moment for esports.
ThriveFantasy Raises $1M for its Esports Platform for Prop Bets
Despite the pandemic halting sports, fans have a new outlet with ThriveFantasy when the action resumes. This daily fantasy sports platform democratizes fantasy sports and is designed for the casual user who wants to be more engaged with sports. Rather than drafting a traditional fantasy lineup, users can pick over/unders from the top tier athletes […]
PickUp Raises $1.48M to Bring Interactive Sports Conversations Across Any Medium
The absence of sports has driven fans crazy during the pandemic but as sports resume, PickUp will be there to make sure that fans are engaged. Cofounded by Dan Healy, PickUp is a sports engagement platform that allows fans to create conversations from the content they are consuming on publisher sites and share it around the web.
Where We Are Investing Now: Esports/Gaming SaaS
Venture capitalist Mike Edelhart lays out what he sees as a single seam in Esports and gaming content that has true venture scale – Esports SaaS. Esports SaaS companies have these characteristics.