Dutch short-form gaming video clips platform Medal has raised a respectable $45 million in a Series C funding round in addition to a previously unannounced $15 million Series B round. This $15 million Series B round provides a bit more context behind the company’s acquisitions of livestreaming platform Rawa.tv back in August, and Gif Your Game and Fuze.tv in early November of this year. In total, the firm has raised $57.5 million. Or at least that’s what’s now on record.
Medal’s growth, both organically and through the acquisitions has resulted in the launch of Medal 3, a revamped and revved-up version of the original offering, but now with a decidedly more community and connection focus.
The company points to a large percentage of social interactions moving online, with video gaming becoming a major driver in the lives of many. The platform counts nearly 1 million daily active users producing some 2 million gaming clips per day.
Medal CEO Pim de Witte commented, “The next wave of social networks is built around shared experiences - where you enjoy meaningful things with other people and create memories together while physically apart. We’re building the platform to enable that.”
Medal’s $45 million Series C round was led by OMERS Ventures, with the Series B round that saw funding from Makers Fund, Horizons Ventures, Dune Ventures, and other undisclosed investors.
“We believe that gaming will be the culture of the metaverse”, commented OMERS Ventures’ Henry Gladwyn. “From our first conversation with Pim and the team, it was clear that Medal would play a major role in making this happen – creating a link between gaming platforms and the games themselves. The company’s focus on simplicity and its user’s needs has led to extraordinary traction to date and we look forward to what the future holds.”
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