Livestream startup LiveControl raises $30m in Series A round


Los Angeles-based livestream platform LiveControl has raised $30m in Series A financing.

Box Group

Led by Coatue, the round also saw participation from existing investors First Round Capital, Box Group, Susa Ventures, and TriplePoint.

According to TechCrunch, which first reported the news, the round brings LiveControl’s total funding to $33m, following a $3.2m seed round in August 2020.

LiveControl’s Series A announcement comes amidst a frenzy of investment in the virtual concert sector this year, catalyzed by live music’s hiatus during the pandemic.

Just last week for example, US-based virtual concerts startup Flymachine, which claims to deliver “a first-of-its-kind immersive social experience”, raised $21 million in new funding, with backing from music-industry heavyweights like Red Light Management founder Coran Capshaw and Wasserman Music Managing Executive, Marty Diamond.

Other livestream platforms to make headlines this year include Mandolin ($12m Series A), DREAMSTAGE (secured strategic investment from Deezer), Scooter Braun-backed Moment House, and Veeps, which sold a minority stake to Live Nation.

TechCrunch reports that LiveControl’s technology has already been used in “hundreds” of venues in the US.

In a blog post announcing the news, the company’s Co-Founder and CEO Patrick Coyne writes that it took his team “years of iterative development” to get the company’s technology to the point where it is now.

“We wanted to understand every edge case of what could arise during remote video production at scale,” he writes. “But we did it. And the result is awesome.”

According to Coyne, “It takes less than an hour to set up LiveControl in a new environment”.

“Despite our exciting progress, our team believes that we’ve only begun to scratch the surface of what our system is capable of.”

Patrick Coyne, LiveControl

He added: “Despite our exciting progress, our team believes that we’ve only begun to scratch the surface of what our system is capable of.

“We’re automating the many tedious parts of video production; which allows our camera operators to focus on the truly creative aspects that only humans can accomplish.”Music Business Worldwide



Source link

More from author

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related posts

Advertismentspot_img

Latest posts

Hong Kong court delivers guilty verdict in national security law case

Armed police officer escort a van (behind) transporting Tong Ying-kit as he arrives at West Kowloon court in Hong Kong on July 6,...

DBC: Downside Risks Dominate Following Record Rally

DBC: Downside Risks Dominate Following Record Rally Source link

Indonesia-based grocery app HappyFresh reaps $65M led by Naver Financial and Gafina – TechCrunch

HappyFresh, the on-demand grocery app based in Indonesia, announced today it has raised a $65 million Series D. The round was led by...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!