Livepeer operates a decentralized video transcoding network on Ethereum that provides cost-effective infrastructure for livestreaming and video applications. Its network aggregates over 70,000 GPUs and has streamed tens of millions of minutes, including a record 2.3 million minutes in a single week (a six-fold increase since the start of 2021). The company plans to use the new funds to accelerate execution toward livestreaming infrastructure opportunities driven by creator-driven streams, esports and live shopping. In October Livepeer acquired MistServer to expand content delivery capabilities and simplify streaming for developers. Livepeer is investing in R&D for AI-based smart video, peer-to-peer content delivery, and AI-enhanced content moderation, song detection and video fingerprinting. The company has 32 employees and has raised capital to support its roadmap into 2022 and beyond. Livepeer operates a decentralized video encoding platform built on the Ethereum network that marketplaces compute between encoding providers and app developers. Developers run a Livepeer node and media server and fund accounts with Ethereum to access encoding services. The network already powers more than 100 streamed events and has over 30 providers supplying compute capacity. Livepeer says its approach can be roughly 10x cheaper than incumbents, claiming two streams cost about $0.70 per day versus incumbents’ ~$3 per stream per hour. The company plans to use its Series A to roll out a Pilot Partner Program and push adoption beyond crypto-aligned early adopters into enterprise customers, offering six months free to new participants. Livepeer has 12 employees, split roughly half in New York City and half distributed, and added former Brightcove CEO David Mendels as an advisor.

Total raised

$28M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2022