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Livepeer Raises $20 Million With Backing From New Investors Alan Howard, Tiger Global As Web3 Infrastructure Momentum Grows

Livepeer Raises $20 Million With Backing From New Investors Alan Howard, Tiger Global As Web3 Infrastructure Momentum Grows

01/05/22, 12:00 PM
Money raised
$20 million
Livepeer, the decentralized video transcoding network built on the Ethereum blockchain, has raised a $20 million Series B-1. The new investors in this round include Alan Howard, Tiger Global with participation from existing investors.

Company Info

Company
Livepeer
Additional Info
Founded in 2017 by Doug Petkanics and Eric Tang, Livepeer is the decentralized video streaming network built on the Ethereum blockchain. Targeting the $70 billion video streaming market, Livepeer enables livestreaming innovators to bring their ideas to market affordably - and to scale them without exorbitant usage fees. Livepeer’s network already features over 70,000 GPUs, which is enough aggregated power to encode all of the video streaming through Twitch, YouTube and Facebook combined. To date, Livepeer has streamed tens of millions of minutes, passing a key milestone: a record 2.3 million minutes streamed in a single week, a six-fold increase from the start of 2021. For more: Livepeer primer, Protocol Explorer, whitepaper, Twitter, Medium and Reddit.