SEATTLE, WA, Vreal, the first virtual reality livestreaming and broadcast platform, just landed $11.7 million in Series A funding.
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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. "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." said Todd Hooper, Founder and CEO of Vreal. "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 favorite 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. "As VR becomes more accessible, so will the need for compelling VR broadcast content that moves beyond simple 360 video," said Faliszek. "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.
"Digital content creators are entertainers, and they are hungry for new kinds of unique programming formats to bring to their audiences," said Chris M. Williams, founder and CEO of the new kids' media company pocket.watch. "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. For more information or to sign up for future tests, please visit this link.
Vreal is the first broadcast platform for virtual reality entertainment. Vreal enables content creators to record, stream, and share VR experiences with their fans, whether viewers are enjoying the content on a VR headset or watching on a 2D screen. Viewers can join their friends in immersive VR streams made by their favorite content creators. For more information, follow Vreal on Twitter at: @VREALofficial or visit http://vreal.net.
About Axioma Ventures
Axioma Ventures is a venture firm with Fortune 100 executive leadership and a global presence. Axioma supports emerging tech businesses with expansion capital to accelerate growth.