livecontrol Secures $30M Funding for Venue Livestreaming

The Evolving Landscape of Live Events

Recent events over the last eighteen months have undeniably and permanently altered the live event industry. Many venues were forced to seek alternative income sources due to the pandemic, and unfortunately, a significant number experienced permanent closure.

Conversely, this period has spurred substantial growth for companies focused on broadening the accessibility of live, in-person experiences. LiveControl, for example, has recently secured $30 million in Series A funding, spearheaded by Coatue, with participation from existing investors including First Round Capital, Box Group, Susa Ventures, and TriplePoint.

This investment elevates the Southern California-based company’s total funding to $33 million, following a $3.2 million seed round led by First Round Capital in August of the previous year.

LiveControl's Production Suite

LiveControl provides a comprehensive production suite designed as a readily implementable solution for venues. CEO Patrick Coyne posed a question to TechCrunch, stating, “Imagine being able to instantly summon a complete video production team for only $150.” This was presented as a rhetorical illustration of the company’s value proposition.

The company reports that its technology is currently utilized in “hundreds” of locations throughout the United States. These include a diverse range of venues, from music halls and comedy clubs to Broadway theaters and places of worship.

LiveControl’s software is designed to be compatible with various devices and is supported by the provision of third-party camera hardware, offering a complete, turn-key solution.

Future Growth and Market Considerations

The newly acquired funding will be allocated to accelerating technological development and expanding the company’s workforce from its current 40 employees to 120 within the next year and a half. Both LiveControl and its investors express strong confidence in the potential of this market.

However, questions remain regarding the extent to which audience interest in remote viewing will diminish as venues globally and nationally fully reopen.

Coyne emphasizes the current importance of video, stating, “Video is now a fundamental requirement for most organizations, venues, and content creators.” He further notes, “We are witnessing continued acceleration in this area, with increasing investments being made to enhance video quality.”

The demand for high-quality live streaming solutions appears to be consistently growing.