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VENN Secures $ 26M Series A Funding Round

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The Video Game Entertainment and News Network (VENN) has raised a US $ 26 million Series A investment round co-led by BITKRAFT Ventures and Nexstar Media Group. Other investors who participated in the investment include Eldridge, WISE Ventures, Minnesota parent company Røkkr, Alumni Ventures Group and the majority of the company’s existing start-up investors. As part of the investment transaction, Nexstar was granted the right to appoint a member to the board of directors of VENN and the exclusive rights to broadcast VENN for local television. Bringing in Nexstar, one of the largest broadcast companies in the United States operating 197 television channels, will allow the network, which started out in streaming on platforms such as Twitch, YouTube, Facebook and Twitter, to move some from its broadcasts to linear television. . The company also announced that it has appointed Viacom and NBC Sports veteran Jeff Jacobs as the new executive vice president and general manager, who will oversee the growth and expansion of VENN through its content and business operations. . VENN previously raised $ 17 million in seed funding when it launched in September 2019.

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