What is Livepeer?
Founded in 2017 by Doug Petkanics and Eric Tang, Livepeer operates as a decentralized video streaming network leveraging the Ethereum blockchain. The company aims to disrupt the estimated $70 billion video streaming market by providing a more affordable and scalable solution for livestreaming innovators. Livepeer's network boasts an impressive infrastructure with over 70,000 GPUs, possessing sufficient aggregated power to encode all video streams from major platforms like Twitch, YouTube, and Facebook combined. To date, Livepeer has facilitated the streaming of tens of millions of minutes, recently achieving a record of 2.3 million minutes streamed in a single week, marking a substantial six-fold increase since the beginning of 2021. This growth highlights the increasing demand for its decentralized video infrastructure.
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
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 companies.
Coinbase Ventures
Coinbase Ventures is the venture capital arm of Coinbase, focusing on investments in promising companies within the cryptocurrency and blockchain ecosystem.
CoinFund
CoinFund is a blockchain-focused investment firm that supports venture and liquid opportunities within the digital asset and decentralization technology sectors.
What's next for Livepeer?
The substantial enterprise-level funding and recent strategic investment position Livepeer for accelerated growth and network expansion. This capital infusion is expected to fuel further development of its decentralized video infrastructure, enhance its competitive edge against traditional streaming solutions, and potentially attract more developers and users to its platform. The company's focus on affordability and scalability, coupled with its robust GPU network, suggests a strategic push to capture a larger share of the burgeoning video streaming market. Future developments may include broader adoption of its protocol, enhanced features for content creators, and further decentralization of its network governance.
See full Livepeer company page
