Looking to become the video-based social network of the gaming world, Medal.tv raises $9 million

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When [ad_1] first launched on the scene, the company was an upstart trying to be the social network for the gaming generation.

[embedded content], 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 [ad_2].

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 of Google Play games in Europe and an angel investor in Medal.

It’s a platform that saw investors willing to fork over as much as $20 million for the company, according to chief executive Pim de Witte. “There are still too many risks involved to take capital like that,” de Witte says.

Instead, the $9 million from Horizons, and previous investors like [ad_1] will be used to steadily grow the business.

“At Medal, we believe the next big social platform will emerge in gaming, perhaps built on top of short-form content, partially as a result of gaming publishers trying to build their own isolated gaming stores and systems,” said de Witte, in a statement. “That drives social fragmentation in the market and brings out the need for platforms such as Medal and Discord, which unite gamers across games and platforms in a meaningful way.”

As digital gaming becomes the social medium of choice for a generation, new tools that allow consumers to share their virtual experiences will become increasingly common. This phenomenon will only accelerate as more events like the[ad_1] become the norm.

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“Medal has the exciting potential to enable a seamless social exchange of virtual experiences,” says Ryann Lai, an investor from Makers Fund.

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