What is Livepeer?
Founded in 2017 by Doug Petkanics and Eric Tang, Livepeer operates a decentralized network leveraging over 70,000 GPUs, an aggregate power sufficient to encode all video streams from major platforms like Twitch, YouTube, and Facebook combined. The company targets the substantial video streaming market, aiming to provide a cost-effective solution for livestreaming innovators. Livepeer has already facilitated tens of millions of minutes of streamed content, demonstrating significant growth with a record 2.3 million minutes streamed in a single week, a six-fold increase from early 2021.
How much funding has Livepeer raised?
Livepeer has raised a total of $48M across 2 funding rounds:
Series A
$8M
Series B
$40M
Series A (2019): $8M with participation from Northzone
Series B (2022): $40M led by Coinbase Ventures, Tiger Global Management, and CoinFund
Key Investors in Livepeer
Coinbase Ventures
Coinbase Ventures is the investment arm of Coinbase, a prominent cryptocurrency exchange, focusing on supporting promising projects within the digital asset ecosystem.
Tiger Global Management
Tiger Global Management is an investment firm that deploys capital across both public and private markets, known for its significant investments in technology and growth-stage companies.
CoinFund
CoinFund is a blockchain-focused investment firm established in 2015, dedicated to advancing digital assets and decentralized finance through venture investments and support for key blockchain infrastructure.
What's next for Livepeer?
The recent major strategic investment signifies a pivotal moment for Livepeer, likely enabling the company to accelerate its network expansion, enhance its technological infrastructure, and broaden its market reach within the burgeoning decentralized video sector. This capital infusion is expected to support Livepeer's ongoing efforts to capture a larger share of the video streaming market by offering a more economical and robust alternative to traditional centralized services. Future developments may include further decentralization initiatives and strategic partnerships to solidify its position as a leader in Web3 video infrastructure.
See full Livepeer company page
