New York based games technology solutions provider Genvid Technologies has announced a new funding round, and that is has made the Genvid SDK publicly available for all major engines and platforms.
Genvid has been boosted by an additional $2.5 million (£1.9m) of funding, rounding the company’s total amount raised to $4m (£3.06m). The funding was led by Los Angeles-based March Capital Partners, with Chicago’s OCA Ventures also participating.
The Genvid SDK allows game developers and publishers worldwide access to new tools ‘to create unrivaled interactive streams across multiple streaming platforms and providers’ such as YouTube and Amazon Web Services.
This was previously only available to select users. With the SDK, developers can map viewer interactions from a game onto the video itself in real-time. Genvid has developed patented technology that can generate uses for data synchronised to these streams. As a result, livestreams can be monetised through transactions that are uniquely targeted to the individual watching, which should in turn lead to a significant revenue opportunity for game developers through sponsorships and in-stream purchases.
Jacob Navok, CEO, Genvid stated: “As platforms and game developers find new ways to innovate, we’re delighted that they’re increasingly turning to Genvid for solutions to improve the user experience and engage with audiences.
“Since our initial launch last year, many top titles are already integrating and some are building exclusive content on our technology. We look forward to furthering that momentum with the online launch of our SDK so that any developer can build interactive livestreams.”
Genvid COO Christopher Cataldi added: “We are additionally very excited for the recent launch of Twitch’s Extensions program, which we intend to support inside our SDK so developers can use Genvid to significantly lower the amount of work they have to do to get Extensions working and stream directly on Twitch.tv.”
A number of games, esports tournament providers, and platforms have already entered Genvid’s integration pipeline. Most notably for the esports world this includes development of a new interface for CS:GO streams that allows viewers to control the user interface as though they were in-game.
Gregory Milken from March Capital noted: “Genvid has been leading the interactive streaming revolution, connecting developers to platforms and enabling them to generate streams and revenues they would otherwise not have access to.
“We’re excited to see all of the progress Genvid has made as they continue to expand their offerings and partner with leading developers and titles such as CS:GO.”
Esports Insider says: Genvid has now raised a total of $4m and clearly makes a strong case to investors with its plans, and the potential for the Genvid SDK specifically.