Earlier this week Restream, a video streaming startup with Ukrainian roots but now headquartered in Austin, Texas, closed a $50 million Series A round. Sapphire Ventures and Insight Partners led the round, which was also supported by Moscow-based Iskra Ventures.
Restream’s total funding has reached $55 million since the company was founded in 2015, Alex Khuda, co-founder and CEO of Restream, told.
Restream enables businesses and creators to broadcast live content from the cloud to millions of viewers across more than 30 social platforms, including Facebook, LinkedIn, Twitch, Twitter, and YouTube. Creators can brand content by adding overlays, logos, and watermarks, and use Restream Chat and Analytics to engage with their community in real-time.
The startups claims more than 8 million broadcasts delivered and 600 million viewers engaged per month.
The new round of financing will support the company’s leadership ambition in multiplatform live streaming. Restream is also launching its own studio, touting it as part of its “mission to democratize live streaming, make broadcasting content across your favorite social media platforms as easy as hosting a Zoom call.”
The startup was bootstrapped for several years, claiming to have been profitable almost from start. Khuda said that the latest round of funding was raised not to support operational expenses, but to take the business into newer areas.
Participants in the round also included Silverton Partners, Anorak Ventures, Liquid 2, Colopl Next, Mana Ventures, and Moscow-based Iskra Ventures. As part of the investment, Sapphire’s Managing Director Paul Levine and Insight’s Managing Director, Teddie Wardi, will join Restream’s board of directors.