Spotify Investor Funds Decentralized Video Streaming

Ethereum-based decentralized video streaming startup Livepeer announced that it raised $8 million from institutional investors in its Series A funding round.

The startup will use the newly acquired resources to support the further development of the Livepeer protocol, network, software and ecosystem to further adoption.

The round was led by venture capital firm Northzone, which was also one of the first investors in Spotify.

David Mendels, the former CEO of online video platform Brightcove, has joined the company in an active advisor role.