GoStream secured $1M Series A from VinaCapital to invest further in live video streaming

Author: Victoria Van

January 26, 2021

The Highlights:

  1. GoStream, a fast-growing Vietnamese startup that provides a multi-platform Livestream broadcaster for social sellers, marketers, and content creators, has secured $1M Series A funding from VinaCapital Ventures to expand its business.
  2. Earlier, GoStream also received a 6-figure seed funding from VinaCapital Ventures and Zone Startups Vietnam
  3. GoStream, is one of the 6 finalists of VietChallenge and won the first prize at the Vietnam Techfest, and will represent the country at the 2021 Startup World Cup contest in the U.S.
  4. In 2019, GoStream made it to the top 30 most used live broadcasting applications on Facebook.

GoStudio Founder

GoStream, a Vietnamese startup that specializes in providing Livestream platforms for sellers, marketers, and content creators, has received the second investment of VinaCapital Ventures in Series A, with a disclosed capital of over one million USD.

GoStream, founded in 2017 by three engineers with experience in digital assistive technology is a platform that helps users using the Livestream tool to reach a larger audience from different platforms, thereby increasing impressions and views. The difference is that GoStream focuses on an interactive experience where viewers participate in the live stream videos, thereby creating loyal followers of the provider's content.

GoStream is an easy-to-use platform for any type of user, even for those with little or no technical knowledge. It enables users to reach large audiences from different platforms to increase visibility and get more views. Currently, the company is serving multiple corporate clients and facilitating over 100,000 live streaming sessions daily.

GoStudio VC

According to a survey by PwC Social Surveys, Vietnam is the 7th country in the world in terms of the number of Facebook users, reaching 68 million people, accounting for 68.7% of the country's population. In 2019, GoStream was listed by Facebook as one of the 30 most used platforms in the world for 30 days.

Mr. Hoang Duc Trung, CEO of VinaCapital Ventures, said that GoStream's Livestream support technology helped businesses interact with existing customers and attract more potential customers. The partnership with VinaCapital Ventures will help GoStream expand and play a major role in Vietnam's digital transformation.

In October, GoStream was one of the six finalists of VietChallenge, the most prestigious competition for startups, and later won the first prize at Vietnam Techfest 2020 in Hanoi. The contest’s organizing board recognized the product’s ease-of-use and adaptability to a range of online channels, including social commerce (Livestream commerce), online training (e-learning), and online entertainment (live game shows). This becomes especially important in the context that the COVID-19 pandemic is sweeping the world. GoStream does not require software downloading or installation, and it is stable and compatible with popular web browsers, enabling more users to apply live streaming across various sectors.

With the current funding, GoStream is going to compete directly with Streamyard and other streaming platforms and will expand the business to the Philippines and the United States in 2021.

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