Genvid Technologies parent company Genvid Holdings announced that it’s raised $113 million in Series C Funding to run more interactive live events like last year’s Facebook project Rival Peak.
The company has announced that the money will be largely directed toward forming a new interactive event publishing subsidiary called Genvid Entertainment. Genvid Entertainment will be responsible for “producing and publishing” massive interactive live events (“MILEs”) like Rival Peak.
It will apparently be partnering with “major IP holders” to create these events, which if they’re anything like Rival Peak, will feature audience interaction with in-game characters to create an unfolding, algorithmically-driven story.
Former Netflix VP of Original Programming Cindy Holland will also be joining Genvid in “an advisory role,” to help with content strategy and acquisition.
Rival Peak didn’t make huge waves in the video game scene, but its interesting technology and reality show-meets-video game format appear to have stirred up some interest from the investor class.