Raises $10MM Oversubscribed Seed Round for Revolutionary Free Smart TV Gaming Platform
Summary
Co-founded by tech and media innovator Andr\xe9 Swanston, PHND is poised to make high-quality gaming universally accessible by offering a free-to-play experience on smart TVs and other connected devices. The oversubscribed round also saw participation from Bessemer Venture Partners, Connecticut Innovations Fund, and Jozy Altidore.This substantial seed investment will fuel PHNDs continued development and its highly anticipated 2025 beta launch.Over the past five years, more than 500 million smart TVs capable of supporting a cloud gaming app have shipped globally, far outpacing the combined total of gaming PCs and consoles. Currently, video games played on a TV or large screen generate only about 7% of their revenue from ads or sponsors, compared to 50% for the broader media sector. For consumers, PHND offers a compelling value proposition: subscription-free access to high-quality games on devices they already own, unlike other gaming platforms that charge up to $30/month.Swanston, who previously revolutionized targeted advertising across smart TVs and smart speakers as the CEO and co-founder of Tru Optik before its nine-figure acquisition, sees a similar trajectory for PHND. At the same time, PHNDs analytic and marketing tools enable studios and publishers to engage and retain these potential gaming audiences more efficiently than across legacy distribution methods.Were excited to support the PHND team in reshaping the gaming experience, and creating powerful new opportunities for players and developers, added Jackson Cummings, Head of Wellington Access Ventures.