Parsec Announces $7 Million Series A Financing Round

May 12, 2020
Parsec Announces $7 Million Series A Financing Round

Parsec has announced the close of a $7 million Series A financing round led by Makers Fund and joined by Lerer Hippeau, NextView Ventures, Notation Capital and HP Ventures.This new investment will fuel Parsec even further as it connects a global community of players in the internet’s best arcade experience while making it possible for a growing list of some of the world’s largest creative companies to work remotely.

Parsec’s best-in-class P2P streaming technology has the potential to disrupt the status quo in gaming on multiple fronts – from fully secured remote game development for studios, to instantaneous, effortless, cross-device multiplayer experiences for gamers,” said Jay Chi, Makers Fund Founding Partner. “The incredible traction they have received is a testament to both the team’s capability and a clear market need.

Launched in March, Parsec for Teams is a version of Parsec’s remote interactive desktop application tailored to game developers and creative professionals, letting companies connect and manage workstations, team members and operations no matter where they are. Parsec’s low-latency, 60 frames per second, UHD infrastructure is uniquely equipped to meet the demands of development, which relies on perfect input handling and visual fidelity. Future updates will add new tools to make Parsec for Teams an even better solution for creative professionals across a variety of industries, including animation, design, VFX, video editing and more.

Over 100 companies are using our technology to power development and production, including Electronic Arts, Behaviour Interactive, and Rainbow Studios, and that number’s only growing as more industries move their operations and events online,” said Parsec co-founder and CTO Chris Dickson. “Parsec is highly optimized for streaming games, but it works with any program, game or not, getting out of your way to let you enjoy whatever you’re doing.

That same cross-platform technology is making it possible for hundreds of thousands of users to play and socialize online together as if they were in the same room through the Parsec Arcade. Released in 2019, the Arcade lets you play couch co-op and local multiplayer games on nearly any device seamlessly online, discover new titles, and connect with private groups and players all over the world.

Many studios use Parsec Arcade to playtest and demo their titles, making it easier to connect with new partners and communities. Developers can even embed the Parsec software development kit directly into their games to quickly add online multiplayer without the costs typically needed to do so.