VENN leveled up in its quest to become the 24/7 streaming network for gaming on Tuesday, announcing it has closed a $26 million Series A financing round. The Playa Vista-based company has also turbocharged its leadership and distribution network.
The Videogame Entertainment and News Network launched in August with $17 million in seed funding. That round was led by Bay Area gaming fund BITKRAFT, which also co-led the Series A — this time with Nexstar Media Group, a NASDAQ-listed telecoms company headquartered in Irving, Texas.
Helmed by gaming industry royalty and financed by a who's-who of gaming investors, the Video Game Entertainment and News Network (VENN) launches Wednesday. The free, ad-based network features live, 24/7 coverage on its website and a range of social media and connected-TV platforms.
VENN's home base is Playa Vista Studios in Los Angeles, where it boasts five sets comprising over 8,000 square feet. It will also broadcast out of New York City. The programming slate will include a variety of original content covering gaming, esports and music.