Vreal, a virtual reality live-streaming and broadcast platform, just landed $11.7 million in Series A funding. The round was led by Axioma Ventures, along with new investors Intel Capital and AET Fund, as well as existing participating investors Upfront Ventures, Vulcan Capital and CRCM Ventures. Vreal will use the funding to further develop and launch their platform, paving the way for gamers to create, share and enjoy video game content all within virtual reality.
The Series A round brings the total company funding to $15 million. The newly-raised funds give Vreal the resources to launch the platform, refine its content creation tools and scale as the VR market expands. Todd Hooper, Founder and CEO of Vreal, said:
“VR is an immersive medium and Vreal is the only way for viewers to step inside someone else’s VR gameplay and enjoy VR content the way it’s meant to be experienced. Immersive virtual worlds are the future of gaming and we’re building the highway that will take viewers to curated gameplay experiences, all alongside their friends and favourite gaming personalities”.
Along with the Series A financing, Vreal welcomes two industry veterans to its board of directors. Representing Axioma Ventures is Chet Faliszek, known for his work on Valve’s Left 4 Dead and Portal series, who brings his expertise from his pioneering work on SteamVR. Faliszek commented:
“As VR becomes more accessible, so will the need for compelling VR broadcast content that moves beyond simple 360 video.
Viewers will demand the freedom they have in VR games to be in their viewing experiences”.
Vreal works directly with content creators and networks like Rooster Teeth, Machinima and Hyper RPG to shape the platform, design production tools and explore new ways of building engaging VR content for gaming audiences. Chris M. Williams, founder and CEO of the new kids’ media company, Pocket.Watch, said:
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Digital content creators are entertainers and they are hungry for new kinds of unique programming formats to bring to their audiences. Vreal has been delivering exactly that to its first group of creator partners and I’m confident many, many more will find it valuable”.
Williams, previously the Chief Audience Officer at Maker Studios, which Disney acquired in 2014, joins Faliszek on the Vreal board of directors.
Vreal is currently in closed alpha testing. Those interested in participating can sign up here.
