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When Medal.tv first launched on the scene, the company was an upstart trying to be the social network for the gaming generation.
Since its debut in February, the clipping and messaging service for gamers has amassed 5 million total users with hundreds of thousands of daily active users. And now it has a $ 9 million new investment from firms, led by Horizons Ventures, the venture capital fund established by Hong Kong multi-billionaire Li Ka-shing.
"We are seeing a new way of sharing video and self-expression for the current generation. We believe Medal's platform will be a foundation for interactive social experiences beyond what you can find in a game, "says Jonathan Tam, an investor with Horizons Ventures .
Medal sees potential both in its social network and in the ability for game developers to use the platform as a marketing and discovery tool for the gaming audience.
"Friends are the main driver of game discovery, and game developers benefit from shareable games as a result. "Matteo Vallone, the head of Google Play games in Europe and an angel investor in Medal.
It's a platform that saw investors want to fork over as much as $ 20 million for the company, according to chief executive Pim de Witte. "There are still too many risks involved to take over capital like that," de Witte says.
Instead, the $ 9 million from Horizons, and previous investors like Makers Fund, will be used to steadily grow the business.
"At Medal, we believe the next big social platform will emerge in gaming," "said de Witte," in the future. a statement. "That drives social fragmentation into the market and the need for platforms such as Medal and Discord, which unites gamers across games and platforms in a meaningful way."
As digital gaming becomes the social medium of choice for a generation, new tools that will allow consumers to share their virtual experiences. This phenomenon will only accelerate as the Marshmello concert in Fortnite become the norm.
"Says Ryann Lai, an investor from Makers Fund.
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