Livepeer Raises $20 Million With Backing From New Investors Alan Howard, Tiger Global as Web3 Infrastructure Momentum Grows
Livepeer , the decentralized video transcoding network built on the Ethereum blockchain, has raised a $20 million Series B-1. The new investors in this round include Alan Howard, Tiger Global with participation from existing investors.
Coming five months after Livepeer’s Series B, the raise underscores Livepeer’s continued growth, says CEO Doug Petkanics:
“This rapid Series B extension is another welcome endorsement of how we are executing on our vision of becoming the world’s open video infrastructure. We’ve seen strong organic growth in demand for transcoding, as well as growing awareness of the reliability, value and efficiency of web3 infrastructure.”
Livepeer plans to use the funds to accelerate its execution towards capturing the growing opportunities in livestreaming infrastructure, an area that’s rapidly expanding due to the popularity of creator-driven streams, eSports and live shopping.
In October, Livepeer expanded its video streaming offerings with the acquisition of MistServer , the flexible content delivery technology that simplifies the complexities of video streaming. The expanded Livepeer offerings enable developers to build on a cost-effective infrastructure and scale streaming applications across entertainment, events, gaming and eCommerce.
The MistServer acquisition aligns with Livepeer’s R&D work in AI-based smart video, peer-to-peer content delivery, and AI-enhanced content moderation, song detection and video fingerprinting. These expanded features will make the Livepeer platform even more powerful for developers, who benefit from the breadth of offerings on Livepeer’s roadmap into 2022 and beyond.
In July, Livepeer closed its $20M Series B. DCG led the round with participation from previous investor Northzone, as well as Coinbase Ventures, CoinFund, Mike Dudas’ 6th Man Ventures and Warberg Serres. Livepeer has raised a total of $48 million to date and now has 32 employees.
Start building on Livepeer here .
Founded in 2017 by Doug Petkanics and Eric Tang, Livepeer is the decentralized video streaming network built on the Ethereum blockchain. Targeting the $70 billion video streaming market, Livepeer enables livestreaming innovators to bring their ideas to market affordably - and to scale them without exorbitant usage fees.
Livepeer’s network already features over 70,000 GPUs, which is enough aggregated power to encode all of the video streaming through Twitch, YouTube and Facebook combined. To date, Livepeer has streamed tens of millions of minutes, passing a key milestone: a record 2.3 million minutes streamed in a single week, a six-fold increase from the start of 2021.
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
ALTASCIENCES/VIRPAX21.1.2022 17:02:12 CET | Press release
Altasciences Chosen by Virpax Pharmaceuticals, Inc. to Conduct First-in-Human Study of Epoladerm™ for Chronic Pain Associated with Osteoarthritis of the Knee
OMRON-HEALTHCARE21.1.2022 16:23:07 CET | Press release
OMRON Healthcare Remote Patient Monitoring Services Win “Best of” Honors at CES 2022
TX-SCHLUMBERGER21.1.2022 12:52:13 CET | Press release
Schlumberger Announces Fourth-Quarter and Full-Year 2021 Results
ZULUTRADE21.1.2022 12:10:13 CET | Press release
ZuluTrade - World’s Largest Social Trading Platform Joins the Finvasia Group
IPSEN21.1.2022 07:02:10 CET | Press release
Ipsen Nominates Karen Witts as New Independent Board Member
PROMPERÚ21.1.2022 02:50:06 CET | Press release
Peru Is Presenting Itself at FITUR 2022 as a Bio-safe Destination, Committed to Outdoor Experiences
CA-MCAFEE21.1.2022 02:42:04 CET | Press release
McAfee Continues to Provide Leading Online Protection to Consumers
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom