? Early Stage VC
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New-York based television network focused mainly on gaming and pop-culture VENN has raised $26m in a Series A round led by existing investor BITKRAFT as well as new investor Nexstar Media Group, with participation from Eldridge, Wise Ventures, Alumni Ventures Group, and Josh Kroenke
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Nexstar is one of the most interesting investors of the round. Being the largest American owner of TV stations with 100m MAU and 1B monthly page views in the country, Nexstar will now have exclusive rights to broadcast VENN on the local market, as well as having a member on its board of directors
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Jeff Jacobs, former MTV vice president of production, will join the Venn’s leadership team as executive vice president and general manager
? Previous Round
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In September 2019, VENN has raised $17m in a seed funding round led by BITKRAFT Esports Ventures and Eldridge Industries, with participation from Marc Merrill, Kevin Lin, Mike Morhaime, Axiomatic Gaming, BDMI, Cumulus Media, YuChiang Cheng and Reimagined Ventures
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Till date, VENN has raised $43m
? Product
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Founded in 2019 and launched this year, on August 5, VENN is an American television network with shows about gaming and pop-culture on Twitch, YouTube, Twitter, FB Gaming and other platforms
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Now the company is planning to expand into other internet platforms, such as Vizio, Xumo and Stirr, and is currently being in active talks with traditional cable companies for TV broadcasting
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While esports is featured on the network, VENN is more interested in the gaming culture in general, inviting renown gamers and content creators to host their own shows
SOURCES: VENTUREBEAT, ESPORTSOBSERVER
