Ukrainian video streaming service Restream closes $50M round
The Restream service, founded in Vinnytsia and incorporated in Austin, USA, has raised $50 million during Series A round, as editors of AIN.UA learned.
$50 million round
The Series A financing was led by Sapphire Ventures and Insight Partners, including the participation of other investors as well. Paul Levine, Managing Partner of Sapphire Ventures, and Teddy Vardi, Managing Partner of Insight Partners, joined the board of directors of Restream.
Previously, Restream had already raised funding. In 2018, $4.5 million was invested in the startup by Silverton Partners, Liquid2, and Anorak Ventures (CEO Greg Castle was one of the first investors in Oculus), as well as James Armstrong, one of the first investors in PayPal.
What does Restream do
The Restream product allows the simultaneous streaming of a video to 30 large and niche platforms from the company’s supported services list, such as Twitch, Youtube, Periscope, Facebook, etc. Videos can be streamed to several different groups on the same platform. Also, you can use the Custom RTMP feature and stream to any destination that provides an RTMP URL and stream key. Additional features of Restream, which improves the communication between users and their audiences on the platforms, are end-to-end chat and end-to-end analytics.
Alexander Khuda and Andriy Surzhinsky founded Restream in January 2015.
Restream in figures
Since January 2020, the company has reported about 300% growth in monthly streamer views using Restream. In July 2020, they amounted to 750 million. In total, the service has 2 million streamers, creating an average of 8 million streams per month.