Streaming app Parsec raises $25M Series B led by Andreessen Horowitz

    NEW YORK, NY, December 17, 2020 /24-7PressRelease/ -- Parsec, the high-performance, peer-to-peer, remote streaming technology company has announced the close of a $25 million Series B financing round led by Andreessen Horowitz and joined by Makers Fund, Notation Capital, NextView Ventures, and Lerer Hippeau.

Over 300 major companies currently use Parsec, including game developers like EA, Ubisoft, Blizzard, and Square Enix, as well as leaders in production, post production, broadcast, and more. Paradox Interactive used Parsec to power their annual Grandest LAN event, usually done in person for fans of their game. Ubisoft leveraged Parsec to take more than 1,000 journalists through summer demos of Assassin's Creed: Valhalla and Watch Dogs: Legion.

The new investment positions Parsec to expand its role as a leading solution for creative professionals working remotely, as well as continuing to connect a global community of players to their friends and games.

"We've been tremendously impressed watching Parsec overcome both technical and business challenges over the years, and we're incredibly excited to be able to participate in the journey," wrote Martin Casado, General Partner, Andressen Horowitz, "We truly believe that Parsec is the right technology for remote use of any app, and the team is on their way to building an iconic company to support that."

Parsec launched Parsec for Teams in March, a version of its interactive remote access application for professional use, as a number of enterprise organizations began using its consumer gaming application for remote work at the onset of the COVID-19 pandemic. Parsec will invest these new funds into expanding Parsec for Teams, growing its sales and marketing function, as well as introducing products that improve creation, communication, and collaboration for a wide variety of remote tasks.

"Thousands of people working through Parsec have managed to continue creating incredible things while reporting feeling healthier and happier working from home," said Parsec co-founder and CEO Benjy Boxer, "We think Parsec's an essential part of any organization's arsenal as they transition to digital-first cultures and distributed teams."

For more information, visit https://parsec.app

About Parsec

Parsec was founded in 2016 by CTO Chris Dickson and CEO Benjy Boxer. Parsec delivers a best-in-class high frame rate, low-latency remote desktop experience. The Parsec app is available for Windows, Mac, Linux, Android, Raspberry Pi and the web, and Parsec's SDK allows its streaming technology to be leveraged across any platform. Parsec is headquartered in NYC.

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