If there’s anything the last year has taught us, it’s that technology plays a critical role in connecting the world. Real-time streaming has recreated the viewing experience, allowing audiences to come together and share immersive experiences, regardless of location or device. Thanks to such technology, accessibility and engagement to sports games, concerts and performances will no longer be dependent on factors such as geography.
The demand for streaming has surged during the pandemic. With market size valued at over $50 billion, the global video streaming market is expected to grow by 21% in the next seven years. With this anticipated growth ahead, it’s critical for streaming technology to perform without lag in both quality and speed.
I’m excited to announce Verizon Ventures’ investment in Phenix Real Time Solutions, a real-time streaming technology platform that aims to deliver synchronous live streams with sub-second latency at broadcast quality and scale. Recently, Phenix raised $16.7 million in Series B financing and will use the funding to grow its technology to cater to the ever-digitizing world of sports, broadcast, betting and other enterprise applications.
"With superior technology engaged in 5G adoption, Phenix is on track to not only provide a seamless viewing experience but expand its offerings through many use cases and industries."
Phenix’s goal is to enable new digital experiences through its proprietary technology by delivering sub-second latency for live sports streams. This provides instant transition from the stadium to the home, creating a truly limitless experience.
Plus, the platform provides for multi-camera viewing, allowing fans to view gameplay from multiple angles. Phenix’s technology also presents a feature that allows audiences to watch together, no matter where they are. Friends at different locations can view the same livestream, collaborate, talk together, compete with in-game trivia and even host virtual watch parties.
The team at Phenix has unlocked a new way to view and interact with entertainment content at a time when people are craving more interaction and top-quality digital experiences. CEO Roy Reichbach is a leader in the industry, and co-founder and Chief Software Architect Stefan Birrer stands as the mastermind behind the technology.
At Verizon Ventures, we look for companies, founders and technologies that excel at what they do, and that’s why we’re excited to support Phenix as they work on the next generation of streaming. With superior technology engaged in 5G adoption, Phenix is on track to not only provide a seamless viewing experience but expand its offerings through many use cases and industries.
We’re excited to be part of a better connected future.
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