It’s been almost two years since Vreal announced details on its virtual reality (VR) live-streaming platform of the same name. Today, the company has announced another step towards launch by completing a $11.7 million USD Series A funding round.
Led by Axioma Ventures, the funding round included new investors Intel Capital and AET Fund, as well as existing participating investors Upfront Ventures, Vulcan Capital and CRCM Ventures. The Series A round brings the total company funding to $15 million, giving Vreal the resources to further develop and launch its platform, refine its content creation tools, and scale as the VR market continues to grow.
“VR is an immersive medium, and Vreal is the only way for viewers to step inside someone else’s VR gameplay and enjoy VR content the way it’s meant to be experienced.” said Todd Hooper, Founder and CEO of Vreal in a statement. “Immersive virtual worlds are the future of gaming, and we’re building the highway that will take viewers to curated gameplay experiences, all alongside their friends and favorite gaming personalities.”
Alongside the funding, Vreal will be welcoming two industry veterans to its board of directors. Chet Faliszek, former Valve writer and VR spokesman who worked on Left 4 Dead and Portal will be representing Axioma Ventures. “As VR becomes more accessible, so will the need for compelling VR broadcast content that moves beyond simple 360 video,” said Faliszek. “Viewers will demand the freedom they have in VR games to be in their viewing experiences.”
Joining Faliszek in the board will be Chris M. Williams, founder and CEO of the new kids’ media company pocket.watch “Digital content creators are entertainers, and they are hungry for new kinds of unique programming formats to bring to their audiences,” adds Williams. “Vreal has been delivering exactly that to its first group of creator partners and I’m confident many, many more will find it valuable.”
Vreal is currently in closed alpha testing. If you own an Oculus Rift or an HTC Vive and want to be considered as an alpha tester then head to the Vreal website to signup. For any further updates, keep reading VRFocus.