TORONTO, May 19, 2021 /PRNewswire/ -- Rumble, a video platform focused on helping millions of creators manage, distribute, and monetize their video content, welcomed the investment of Narya Capital, Peter Thiel and Colt Ventures.
"We couldn't be more excited to welcome aboard investors that are aligned with our long-term vision. This investment is evidence that the market really desires competition and freedom of choice. These funds will help us launch our new cloud services, enhance our video platform, and help create the rails for a new economy that is desperately needed," said Rumble CEO Chris Pavlovski.
In the past year, Rumble's monthly viewership has grown from 1.6 million users per month to an average of 31 million per month in the first quarter of 2021 – an increase of more than 1,800%. This growth reflects the increasingly strong market recognition by both users and creators of Rumble's differentiated value proposition. The investment will add considerable strength to Rumble's ability to build upon this success.
Rumble was built on the belief that small creators should be given equal opportunity to freely express themselves, reach their followers, and be provided the same access to tools that are available to larger creators. This investment will allow Rumble to continue to fulfill its mission while providing the platform with more opportunities to build out its infrastructure and launch new cloud services where businesses can feel safe and secure.
The investment is being led by Narya, a Cincinnati-based venture capital firm co-founded by J.D. Vance and Colin Greenspon that seeks to invest long-term capital in technology that solves significant challenges.
Narya is joined in this investment by Peter Thiel, famed entrepreneur and venture capitalist who has a long and storied track record of investing in frontier technology companies, including PayPal, Facebook, Palantir Technologies, Compass Pathways, and many other ventures.
Ethan Fallang of Narya will join Rumble's board. "At Narya, we support founders who combine technical and business model innovation to address large and underserved markets. We believe Chris and the entire Rumble team have built an excellent platform and are thrilled to be part of their ongoing success as they continue to scale," said Fallang.
Guggenheim Securities acted as the exclusive financial advisor and Willkie Farr & Gallagher LLP acted as legal counsel to Rumble in connection with the transaction.