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Streaming Network for Gaming and Entertainment VENN Closes $26M Series A Financing – Esports Marketing Blog

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VENN (www.venn.tv), the 24/7 live streaming network for games and entertainment, today announced the closing of a $ 26 million Series A funding. The round was co-led by investor BITKRAFT and new investor Nexstar Media Group, Inc. (Nasdaq: NXST). Eldridge, WISE Ventures, Alumni Ventures Group, Josh Kroenke (vice president of Kroenke Sports & Entertainment) and the majority of the existing Series Seed investor group also participated in the round. Pursuant to its investment, Nexstar has obtained category exclusivity and sales for local television broadcasting and has the right to appoint a member to the board of directors of VENN. “With this new round of funding, VENN is positioned for its next phase of growth as we plan to further expand our content creation capabilities and continue to improve the delivery of our ‘instant, anywhere’ viewing experience,” said Ben Kusin, co-founder and co-CEO. “We are proud to welcome Nexstar as a major strategic investor and exclusive local television partner as we leverage the national reach of their 197 television stations, associated digital multicast signals and extensive digital properties with more of 100 million MAUs and 1 billion pageviews per month in the United States. “Thomas E. Carter, President, COO and CFO of Nexstar Media Group, said,” VENN is a new kind of network television designed for the streaming and digital generation, and it develops cutting-edge content for millennial and Generation Z cultures who are obsessed with gaming. Games and e-sports are two rapidly growing industries and thanks to our investment, we plan to distribute VENN content on our streaming platform to reach a younger audience; use VENN to quickly access adjacent content t to play; and present local and national brands with distribution and digital marketing and advertising opportunities to reach a younger audience. In addition to Series A, VENN is strengthening its leadership team with the addition of Jeff Jacobs as Executive Vice President and General Manager. Jacobs joins VENN from Viacom’s MTV and MTV Music and Entertainment Group, where he served as Director of Production at MTV. He later became senior vice president of production planning, strategy and operations for linear and digital channels in the Music and Entertainment group of Viacom Media Networks. Jacobs will focus on growing and expanding VENN while overseeing content and business operations. Most recently, Jacobs ran a third-party production company he co-founded, whose clients included Viacom, the NBA, Global Citizen, and ACE Universe. This company was recently sold to EY-tech. Jacobs also led production, digital and operations at NBC Sports and Olympics before joining Viacom. “VENN is run by a team with extensive experience in games and cable TV. Jeff is the latest talented leader to join our group, and he has already provided incredible value in such a short time. He will play an important role in continuing the growth plan and content of our network, ”added Kusin. “Our high-end programming, unmatched production expertise, technology, studio construction, and in-depth market knowledge strongly position VENN as a major player in the total addressable gaming market.” The expansion of the Series A leadership and outreach team comes as VENN is rapidly expanding its distribution network, with the recent addition of its largest U.S. distributor to date, The Roku Channel. With 40 million active accounts and capabilities built into about a third of all smart TVs sold, The Roku Channel enables VENN to reach a wider streaming audience. It comes as VENN quickly expanded its distribution to 15 million Plex users and 45 million LG homes (powered by Xumo), in addition to Samsung TV Plus and VIZIO, further boosting the reach of network content on various high-level streaming platforms. Universal cast and the ability to speak to the hard-to-reach generation of gamers also make VENN attractive to Madison Avenue and leading global marketers. Subway, Draft Kings, Alienware, Adidas and American Eagle are among the brands that have entered into integration deals with VENN, and further global brand partnerships will be announced. Co-CEO and Co-Founder Ariel Horn added, “We are proud of our amazing team, who, in the midst of a pandemic, successfully launched VENN Beta and helped the network quickly reach this important level of distribution. . It has been gratifying to see our guests having fun, playing games and sharing common moments with our viewers. We believe our new partnerships will significantly expand our footprint going forward and take VENN to the next level by 2021. ”More content on esports investing: About VENN VENN is a 24 hour live network and 7 days a week for the gaming, streaming, esports and entertainment audiences. Launched in August 2020 and streamed live from Vista Studios in Los Angeles, VENN is universally distributed across a wide range of multimedia platforms, creating a frictionless “watch anywhere, instantly” viewing experience for digital generations. VENN offers original programming produced in-house and in partnership with some of the biggest names and creators of gaming, pop culture and lifestyle spaces. Additional programming, content and distribution offerings will be unveiled in the coming months. For more information, visit www.venn.tv. (Image) Source: Press release

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