Parsec Closes $25 Mn In Series B Round Led By Andreessen Horowitz The fresh funds will be utilized to expand Parsec for Teams

By Debarghya Sil

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Parsec Team

New York headquared Parsec remote streaming technology company has announced that it closed $25 million in Series B round led by Andreessen Horowitz. Makers Fund, Notation Capital, NextView Ventures, and Lerer Hippeau also participated in the round.

The company will invest the fresh capital into expanding "Parsec for Teams', growing its sales and marketing function, as well as introducing products.

Founded in 2016 by Chris Dickson and Benjy Boxer, the startup delivers a 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.

Commenting on the investment, Martin Casado, general partner, Andressen Horowitz, said "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."

"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," he further added.

More than 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.

Benjy Boxer, co-founder and chief executive officer of Parsec said that Parasec is an essential part of an organization's "arsenal' during transition to digital-first culture and distributed teams.

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Debarghya Sil

Entrepreneur Staff

Former Correspondent

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