Looking to become the video-based social network of the gaming world, Medal.tv raises $9 million
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’re seeing sharing of short-form video emerge as a means of self-expression and entertainment 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. Medal.tv is trying to enable that without the complexity of streaming,” says Matteo Vallone, the former head