The world is going video. Whether you're a marketing director or a budding journalist, every study on the books is pointing to high quality streaming capabilities as a necessity for future success. However, for most companies, getting on the video bandwagon has been decidedly more difficult than previously thought, as slow download speeds and latency problems have made the medium noticeably more complicated. Fortunately, one company is doing something about it, and they just closed a massive Series A funding round led by KB Partners.
PhenixP2P is a Chicago-based startup providing real-time video streaming solutions to companies around the world. By allowing businesses to focus on content with their proprietary platform PCast, PhenixP2P is providing a wholly necessary service to the content world. And a funding round that sizes proves it.
“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 PhenixP2P board member.
The sizable Series A will be used to scale the company as much as possible. With a seemingly endless variety of needs to meet in the video sector, PhenixP2P has their work cut out for them when it comes to addressing these solutions. Fortunately, with all this funding, they'll be able to tackle all of them in due time.
“Several significant pilot projects are now underway across a variety of categories such as professional sports, broadcast news, eSports/video gaming, social media, and online education to name a few,” said Kyle Bank, director of business development at PhenixP2P in an interview with Tech.Co. “We are working diligently to become the go-to provider of real-time video content delivery.”
In addition to further developing their video streaming platform, they'll also be aggressively accelerating their sales efforts and adamantly educating the market on the importance of latency-free video solutions. They'll also be able to make significant hires in the business and engineering side of the company, opening the door to more growth and innovation as time goes on.
PhenixP2P participated in Tech.Co's SXSW Startup Night just a few weeks ago, impressing judges, investors, and your's truly on the way to a successful pitch. If you want to enjoy some of their success, make sure to apply for our Startup of the Year competition for a chance to compete at Innovate! and Celebrate 2017 in October.
Read more about budding startups here on Tech.Co