- Short-form gaming video company Medal.tv recently announced that it raised $9 million in funding led by Horizons Ventures
Medal.tv — a short-form gaming video company — announced it raised $9 million in funding as reported by VentureBeat. Horizons Ventures led this round of funding with participation from existing investors Makers Fund, Backed.VC, and Social Starts. The company launched about 14 months ago and quickly became one of the fastest-growing platforms in gaming. Specifically, Medal.tv is growing between 10% to 20% per week.
The most popular game creators are hitting thousands of followers on the platform. And gamers are uploading millions of clips every month.
“At Medal, we believe the next big social platform will emerge in gaming, perhaps built on top of short-form content, partially as a result of gaming publishers trying to build their own isolated gaming stores and systems,” said Medal.tv CEO Pim de Witte in a statement. “That drives social fragmentation in the market and brings out the need for platforms such as Medal and Discord, which unite gamers across games and platforms in a meaningful way.”
In conjunction with this funding round, Jonathan Tam of Horizons Ventures is joining the Medal.tv board.
“We’re seeing sharing of short-form video emerge as a means of self-expression and entertainment for the current generation. We believe Medal’s platform will be a foundation for interactive social experiences beyond what you can find in a game,” added Tam.
Medal also works closely with game developers to grow their titles with their audiences. And the company also launched a service called “Get this on Steam” in partnership with Steam for driving sales.
Medal also works closely with game developers to grow their titles with their audiences. And the company also launched a service called “Get this on Steam” in partnership with Steam for driving sales.
“Friends are the main driver of game discovery, and game developers benefit from shareable games as a result. Medal.tv is trying to enable that without the complexity of streaming” explained Initial Capital principal Matteo Vallone.
With this funding round, Medal.tv is going to make additional hires and grow its business operations. Plus the company is also setting up a partnership program to continue to expand its user base.
“Pim and his team are a talented, perceptive, and gritty group and it’s been a joy working with them,” noted Makers Fund investor Ryann Lai in a statement. “Medal has the exciting potential to enable a seamless social exchange of virtual experiences.“
