Streaming Tech Firm Phenix Raises $7.55M In Series A Funding
Chicago-based streaming tech platform Phenix today will announce closing an additional $7.55M in Series A funding led by an affiliate of Chicago-based sports/tech VC firm KB Partners. Phenix has also added key media execs, including Roy Reichbach, who joined the company as CEO from NeuLion, where he engineered its sale to Endeavor/IMG in ‘18. Former Turner President David Levy has joined the company as an investor and board member. Phenix also has added two key board members as part of the recent funding in David Rone, the former Disney, CAA, Time-Warner Cable and Fox Sports senior exec who is currently Senior Managing Dir at Guggenheim Partners LLC; and Darren Feher, the former NBCUniversal Chief Technology Officer and Conviva CEO who is now CEO at vizbee.tv.
Phenix’ proprietary platform, which delivers synchronized streams with sub-half-second latency at broadcast quality and scale, is essential for rights holders that want to better engage with their audiences to deliver interactive experiences that drive revenue and increase engagement/retention. Key verticals include sports betting companies, sports properties and media companies. “We look forward to supporting the continued growth of Phenix’ cutting-edge real-time video streaming solution, which will enable true in-game prop betting on sports, novel gamification elements, eSports interactivity, social casino games and auction platforms,” said KB Partners Founder & CEO Keith Bank.