NEW YORK, May 13, 2021 /PRNewswire/ -- Allstar, a consumer technology startup focused on democratizing the creation of gaming content, today announced a $3.85 million seed round led by members of New York Angels. Founded in 2019, Allstar enables everyday gamers to easily capture and share high-quality snackable highlights with a growing network of supportive users (allstar.gg).
Other investors in the round included venture capital firms Studio.vc, J-Ventures and Emerging Ventures, as well as angel groups Harvard Business School Alumni Angels of Greater New York, Miami Angels, Gaingels, and Sand Hill Angels, and several individual investors whose professional experience span across companies like Twitch, Riot Games, and Zynga.
The raise comes at a critical time for Allstar and the broader gaming ecosystem. In the last eight months alone, Allstar's user base has grown more than 10x and driven close to 200M impressions. Funding will help Allstar enhance the company's current product offering, integrate new titles onto its growing platform and expand its hiring and partnerships efforts.
"Being a former creator myself, I know first hand just how hard it is to make great content, let alone break out and be recognized for it," said Allstar co-Founder and CEO Nick Cuomo. "With this new funding, we'll be able to accelerate our product development and go-to-market plans, giving all gamers free access to powerful technology that makes beautiful, high-impact gaming content easy to make, simple to share, and lots of fun to watch."
While recent studies show that more than one billion people consume gaming-related content, less than three-percent of gamers actually produce their own creative1. Allstar aims to "flip the pyramid" of gaming content to empower all gamers to become content creators. By focusing on activating this audience, the company seeks to unlock the vast untapped potential in wide-scale adoption of user generated gaming content.
The company's proprietary cloud technology provides an alternative to costly PC hardware and unintuitive software that can be burdensome to users and negatively impact gameplay. Beyond its own network, Allstar's creative automation technology integrates with platforms like Discord, making sharing with friends and prospective followers frictionless. The company recently announced a partnership with TikTok, allowing users of the immersive platform to sign directly into Allstar via their TikTok credentials.
Simultaneously with the raise, Allstar is adding Cindy Cook, former chief strategy and marketing officer at Vivendi Games, to its board of directors. At Vivendi Games, Cook helped launch Blizzard's World of Warcraft, the world's largest subscription based online game. She also established two divisions that developed and published mobile and online casual games, as well as ran the company's marketing for leading PC and console titles. Prior, she helped launch the first digital music service at Universal Music Group.
"Allstar has put together the best solution in the market for aspiring creators of short form game content," said Cook. "I'm incredibly excited about Allstar's focus on exceptional quality and user engagement, which are pillars of success for the world's best videogames. The ease, quality and value-to-user are unmatched."
Allstar had previously raised $425,000 of pre-seed capital in December 2019. Notable entrepreneur and media proprietor Mark Cuban contributed to the investment. The company has raised a total of $4.2M+ in venture funding to date.
Allstar's mission is to enable everyday gamers to become content creators through accessible creativity and reachable audience. Using proprietary cloud based technology, Allstar makes creating and sharing high quality snackable game content fast, fun and easy.
The company was founded in August 2019 by former pro-gamer and Chief Executive Officer Nick Cuomo and Chief Technology Officer Gavin Silver. American entrepreneur Mark Cuban is one of the company's early investors.
1 "Number of gaming video content (GVC) viewers worldwide from 2016 to 2020," Statista.com, January 2021.
Michael Chavez Booth
The Story Mob on behalf of Allstar