New capital will fund continued development of Phenix’s proprietary real-time video streaming platform, aggressively accelerate sales and marketing efforts, and educate the market on true real-time audience engagement.
CHICAGO, April 3, 2017 — Phenix, a leading provider of real-time video streaming solutions, announced today that it has closed $3.5 million in Series A funding led by KB Partners. This capital raise brings the company’s total funding to date to over $5.5 million.
“Phenix’s cutting edge real-time video streaming technology fills a huge void in the marketplace, where demand is growing at exponential rates. We were extremely impressed by the caliber and experience of the engineering and leadership teams and the products they have developed,” said Keith Bank, Managing Partner of KB Partners and new Phenix board member.
Phenix was founded in 2013 with one primary goal in mind — eliminate the need for companies to make the tradeoff between latency and scale when it comes to video streaming. Chief Executive Officer Stefan Birrer noted, “Today’s ‘live’ streaming platforms deliver content with significant delay, or latency, which reduces viewer engagement and prevents interactivity. Consumers are demanding real-time applications, and existing real-time video streaming platforms do not meet the required scale, as they are limited to only a few hundred concurrent viewers.”
The company’s proprietary PCast™ platform acts as a real-time video CDN (content delivery network), scaling to a virtually unlimited audience while maintaining less than 0.5 seconds of end-to-end latency. It provides a comprehensive real-time video streaming solution via simple to integrate SDKs and APIs.
Key features include:
This funding will fuel business development growth, accelerate product development, and enable the team to bring on key business and engineering hires in 2017. “We are excited to break into new markets and disrupt today’s standard content delivery methods in OTT television, eSports, social media, and online education,” said Phenix Chief Operating Officer Tripp Welge. “The future of real-time video streaming is now.”
About Phenix
Chicago-based Phenix has revolutionized content delivery with PCast™, the world’s first and only high-quality real-time video CDN with unprecedented low latency at massive scale. PCast™ technology was built from the ground up to scale to millions of concurrent viewers and to drive viewer engagement by providing high-quality video with less than 500 milliseconds of end-to-end latency. To learn more about Phenix, visit https://phenixrts.com/.
About KB Partners
KB Partners is a Chicago-based venture capital firm focused on making early-stage investments in diverse technology, healthcare and sports-related businesses. Since its establishment in 1996, KB Partners has developed a proven track record of helping young companies transform themselves into market leaders. The firm has made approximately 50 venture capital and angel investments, partnering with talented entrepreneurs and experienced managers. Leading companies funded by KB Partners include Active Network (ACTV), Cobotics (SWK), Exacq Technologies (TYC), Performics (DCLK), Rubicon Technology (RBCN), Club Champion, SteadyMed (STDY), Golf.com (TIME), Buddy Media (CRM), MVPIndex, and Zavers (GOOG). To learn more about KB Partners, visit http://kbpartners.com/.
Contact:
Phenix
Kyle Bank
Director of Business Development
(312) 801–5535
kyle.bank@phenixrts.com