Lightstream's $6 million financing tops recent funding news in Chicago

Lightstream's $6 million financing tops recent funding news in Chicago
Photo: Lightstream/Facebook
By Hoodline - Published on March 06, 2019.

Chicago-based video streaming and video games company Lightstream has secured $6 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Feb. 26 and led by Drive Capital.

According to its Crunchbase profile, "Lightstream builds live streaming creative tools and technology with a true passion for live video production, gaming and supporting the explosive growth of creators and their communities. Their cloud-based technology and products transform difficult technical hurdles into streamlined workflows – empowering creators to effortlessly share their passion, talent, and creativity on live streaming platforms like Mixer, Twitch, Facebook, YouTube and more. Since 2014, they have been building a cloud-based live streaming studio with the goal of removing all the technical hurdles and putting advanced production capabilities in the hands of beginners."

The four-year-old startup has raised two previous funding rounds, including a $1.8 million seed round in 2015.

The round brings total funding raised by Chicago companies in content and publishing over the past month to $8 million. The local content and publishing industry has produced six funding rounds over the past year, capturing a total of $36 million in venture funding.

In other local funding news, recruiting and big data company Packback announced a $2.5 million Series B funding round on January 29, led by University Ventures.

According to Crunchbase, "Packback is a social learning platform powered by a proprietary A.I. that college professors use to help their students fall in love with the subject matter, drive personalized learning and, most importantly, quantify and improve critical thinking skills."

Founded in 2014, the company has raised five previous rounds, including a $4.2 million Series A round in 2018.

This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.