Kamcord, the app which live streams mobile games has announced the latest funding round led by Time Warner. The series C round worth $10 Million, also saw participation from Tencent, XG Ventures, Translink Capital and Wargaming. With the latest round, Kamcord is now valued at more than $100 million.
Speaking on the development, Adithya Rathnam, Co-Founder, Kamcord stated that the latest round comes more because of the interest Time Warner showed in the startup. He further added that Kamcord had all the money raised in Series B round safe in the bank, so that means, the money was not really needed, however, it was the interest shown by Time Warner which made them go for the latest round. He also added that the potential of the live streaming platforms is enormous and that was one of the reasons why Time Warner was so interested in investing. Kamcord also has access to majority of teen audience, which interest any media company across the globe.
The raised funds will be used in expansion to South East Asia and European regions.
With the funding round, Kamcord also announced the launch of its new feature, named as Appcasting. The new feature allows the users to broadcast their own mobile screen along with their video and the voice. This move comes at a time when giants like Google, Facebook, Snapchat and Twitter are looking to get into live streaming space by giving amazing features to the users. The startup is looking to use the userbase as content creators to create, broadcast and engage with the content.
At a time when the biggies are looking to get into the same space, the competition is going to be interesting. However, given the past experience, it seems that Kamcord might have an extra edge over the others.