- Leading multiplatform live streaming solution Restream announced it has raised $50 million in Series A financing led by Sapphire Ventures and Insight Partners
Leading multiplatform live streaming solution Restream announced it has raised $50 million in Series A financing led by Sapphire Ventures and Insight Partners. And Restream also launched Restream Studio, a broadcasting production center that makes live streaming across social platforms as easy as hosting a Zoom call.
With this funding round, Restream will be expanding the company’s product offerings and continue to grow its global footprint, following 300% growth since January.
Sapphire Ventures managing director Paul Levine and Insight Partners managing director Teddie Wardi are joining Restream’s board of directors in connection with the funding round.
Restream Studio enables businesses to broadcast live content from the cloud to millions of viewers across over 30 social platforms, including Facebook, LinkedIn, Twitch, Twitter, and YouTube. And creators are able to brand content by adding overlays, logos and watermarks as well as use Restream Chat and Analytics to engage with their community in real-time.
Restream has a community of over 2 million live streamers broadcasting an average of 8 million live streams per month. And in April 2020, the World Health Organization (WHO) streamed the One World: Together at Home charity concert via Restream and on television networks worldwide, drawing more than 270 million viewers. As of July 2020, broadcasters using Restream have reached more than 750 million monthly views, which is more than a 300% increase since January.
Restream is a freemium subscription business that supports creators and companies of all sizes and verticals. And the company remains committed to being one of the most affordable and reliable services for broadcasters with free to tiered paid plans ranging from $19 per month to $299 per month. The customers actively using Restream include Dr. Phil, Deepak Chopra, Microsoft, Redhat, SalesForce, Ubisoft, the World Health Organization (WHO), etc.
KEY QUOTES:
“As the world shifts entirely to online and virtual, live streaming has become an essential way for creators and brands to engage their communities around the world. This year, we’ve seen our growth skyrocket. Live streaming is now critical to every organization’s social media strategy. Our mission has always been to make it super easy to go live on all your social platforms and with this new investment, we will continue to bring new, powerful solutions like Studio to market to support our quickly growing community of creators and businesses.”
— Alex Khuda, co-founder and CEO of Restream
“Long before remote work and life became the norm, Restream’s multistreaming platform had become essential to many creators, companies, entertainers, influencers and anyone that needs to broadcast to wide audiences across social channels such as Twitch, Facebook, Twitter, YouTube, LinkedIn and more. In just a few years, co-founders Alex Khuda and Andrew Surzynskyi built a product that’s become a valuable tool for content creators and marketers to maximize the audience for their live video. Accelerated by COVID, I believe Restream has a significant market opportunity, and I’m excited to partner together on the journey ahead.”
— Paul Levine, partner at Sapphire Ventures
“Restream’s 300% growth since January illustrates the value of their software for Fortune 500 companies to be able to communicate directly to their audiences in today’s virtual world. Starting with the gaming community, Alex and Andrew quickly recognized the potential for Restream’s technology to engage audiences in a variety of settings and scale their platform globally. Now, with their suite of leading-edge streaming tools such as schedule, chat, and analytics, global brands and content creators are able to seamlessly connect and communicate with their audiences. We are excited to partner with Restream at this exciting time as they launch Restream Studio and continue to expand their product offerings.”
— Teddie Wardi, managing director at Insight Partners
“Communicating health information on COVID-19 in real time is critical to helping people protect themselves, their loved ones, and their communities. “Restream helps us broadcast our live products simultaneously to five platforms. This has made our workflow much more efficient as well as reliable and has allowed us to make more creative and informative products available to an ever wider and growing audience. We have recently started using restream studio and it has truly been a game changer for us.”
— Christopher Black, Multimedia Producer at World Health Organization (WHO)
