Image credit: Medal.tv
The news follows the company’s recently raised $45M in Series C round led by OMERS Ventures, following a previously unannounced $15M Series B from Makers Fund, Horizon Ventures, Dune Ventures, and others. Medal used these funds to strategically acquire technology, talent, and resources.
Platform for short-form gaming video
Founded in 2018 by game developers trying to get their game discovered, Medal has grown into a platform used by millions of users to share exciting gaming moments with their friends.
According to Medal CEO Pim de Witte, “Kids don’t hang out at the mall as much anymore. They hang out in Minecraft servers and play Roblox together. 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.”
The platform was founded by Pim de Witte, Josh Lipson, Iggy Harmsen, Zaid Elnasser, and Patrick Rietbroek. As part of the Series C round, Medal’s COO Aurora Klæboe Berg has joined the company’s Board of Directors.
Medal claims to have grown its user base to nearly 1 million daily active users across PC, mobile, and console. The Medal community, which includes more than 1 per cent of all content creators on YouTube, Twitch, and more, creates more than 2 million clips per day.
Recent growth and developments
With acquisitions of live streaming platform Rawa.tv, gameplay editing tools GifYourGame and Fuze.tv, and mobile SDK startup Megacool.co, Medal has expanded globally and across PC, console and mobile in recent years.
This growth, both directly and through these acquisitions, have culminated in the launch of Medal 3.0, a super-powered new version of Medal, with focus on connecting gamers to their friends, their peers, and their gaming communities.
Henry Gladwyn, Partner at OMERS Ventures, says, “We believe that gaming will be the culture of the metaverse. 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.”
With Medal 3.0, the company is now a place to not only capture gaming moments, but to do so within a vibrant gamer community. A new Sessions feature lets gamers play together live, talk, chat, and clip moments from every perspective in real time. The company says, with a full suite of new editing effects, users can express themselves through the moments they experience in new ways.
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