TechNexus portfolio company, BoxCast, ended 2020 with a bang, raising an impressive $20M in Series A funding.
The Cleveland-based startup helps businesses, houses of worship, local governments, athletic groups, and other organizations live stream events by providing them with streaming services, video encoders, and more.
“Our obsession is to serve organizations by making people part of the experiences they create,” said Gordon Daily, CEO & Co-Founder of BoxCast. “Adding a strong operating partner such as Updata and deepening our relationship with a strategic partner such as Shure at this stage in our journey is key to helping us fulfill our purpose of making people part of the experience. The teams at Updata and Shure are a great fit for our culture, our values, and the way in which we do business.”
Boxcast was founded in 2013 and saw steady growth until the pandemic surged demand for its technology as most events became virtual. And although vaccines are being administered in much of the world right now, the rollout will take long enough that many 2021 events will remain virtual. Longer-term, more and more events are expected to be virtual or hybrid (in-person + virtual), a trend that was greatly accelerated in the last year. So the future is bright for BoxCast.
The raise was led by Updata Partners and included participation from TechNexus partner Shure. “We’ve been impressed with BoxCast’s rapid growth over the last two years,” said Brian Woodland, VP of Global Business Development at Shure. “Shure has always focused on delivering extraordinary sound to bigger audiences, and we’re proud to help BoxCast continue that mission by delivering the live event experience – from schools, houses of worship, music performances, sporting events, and more – to people at home. Our investment deepens our commitment to providing the best audio experience for BoxCast’s customers.”