After this round of funding, we can expect Restream to double down on new features, including Restream Studio. This new suite of tools will allow users to add even more to their broadcasts to give them a professional feel such as writing captions and lower-thirds, adding watermarks, managing chats, etc.
Restream’s Series A funding round was co-led by Sapphire Ventures, which invests in a number of tech and gaming organizations including DocuSign, TransferWise and PlayVS. Insight Partners, meanwhile, has also invested in DocuSign along with Twitter and ecommerce brands such as Hello Fresh, Wix and Shopify.
If there’s one thing that history shows, it’s that one investment round usually results in another. Restream hit 750 million monthly views in July and already counts esports teams, TV networks, Fortune 500 companies, politicians and celebrities among its users.Video content was already exploding in popularity when a certain pandemic forced everyone to seek new ways of communication this year. It’s no wonder, then, that simultaneous broadcast company Restream has closed a $50 million Series A funding round, which will be used for future operations and expansion efforts, including the development of new production tools.
There are dozens of virtual meeting and broadcasting tools available, so why does Restream make a unique impact? Let’s break it down.
Who is Restream?
Restream is a tech startup that was founded by Andrew Surzynskyi and Alexander Khuda in 2015. The service allows anyone to broadcast a livestream to multiple locations at once such as Twitch, YouTube, Twitter and Facebook. Users can stream up to 30+ sites for free and pay up to $50 per month for custom features. By 2018, Restream was valued at $17.8 million.
Originally launched with a focus on gamers, Restream saw a 300% traffic surge when 2020 became the year of remote meetings and events. The company’s new valuation was not disclosed at the time of its Series A funding, but Khuda said that it is “definitely higher” than what it was before.
The Streaming Landscape in 2020
Restream is filling a niche for gamers and entrepreneurs by offering a free, yet comprehensive, solution for building a video brand.
Gamers have no shortage of streaming options these days, so choosing the right one(s) is a matter of preference. However, as the demise of Microsoft Mixer has shown, exclusivity only goes so far. Any streamer will tell you that the key to building an audience is consistency, but what happens if there is a hiccup in your site of choice or, worse yet, it closes down? By broadcasting to multiple sites at once, you can reach various demographics without putting all your eggs in one basket.
As we’ve all seen, however, gamers aren’t the only ones turning to livestreams as the new normal. A myriad of organizations — from news broadcasts to church services, education and conventions — have used Restream’s services since the year began.
Restream has a few competitors in the multistreaming space. Castr Multistream offers a similar service, but does not have a free option and limits streams to between 5 and15 places at once. Switchboard Live, integrated with DaCast, also allows users to broadcast multiple locations at once, and the most basic plan starts at $33 per month. Vimeo Enterprise and Premium users, meanwhile, can livestream up to five streaming sites at once.
It will be interesting to see how other brands revamp their pricing or add new features to compete with Restream. We would not be surprised to see even more tech startups appear, to help compete in this new world of virtual meetings and remote workers.
Written by HB Duran