Phenix Raises New Capital

CoSMO News reports that Live Streaming Provider Phenix Raises Additional $7.55 Million in Series A Round. You will find more  details here

Chicago-based live streaming provider Phenix has raised an additional $7.55 million in Series A funding. The investment was led by sports tech VC firm KB Partners, which is also based out of Chicago. 

The funding will be used to help bring Phenix’s cloud-based real-time streaming technology platform to rights holders across sports leagues, sports betting companies, and media companies. Phenix will also use its new investment to hire senior-level sales and marketing employees and add engineering talent.

“We look forward to supporting the continued growth of Phenix’s cutting-edge real-time video streaming solution, which will enable true in-game prop betting on sports, novel gamification elements, esports interactivity, social casino games and auction platforms,” KB Partners CEO Keith Bank said in a press release. 

As part of the funding announcement, Phenix also announced that former NeuLion executive Roy Reichbach will be joining Phenix as its new CEO. David Levy, former president of TBS, also joined Phenix as an investor and board member. Additional new Phenix board members announced as part of the recent funding include David Rone, senior managing director at Guggenheim Partners, as well as Darren Feher, former chief technology officer at NBC Universal.

Phenix has previously helped livestream events such as the 2019 Oscars and Your Call Football, where fans can use smartphones to dictate on-field play calling. KB Partners is also an investor in startups such as indoor rowing machine Asensei and sports sponsorship valuation platform MVPIndex

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