Wellington Management and Bessemer Venture Partners Back Visionary Media Founder André Swanston to Transform Cloud Gaming
STAMFORD, Conn., Feb. 11, 2025 /PRNewswire/ — In a groundbreaking move set to redefine the gaming landscape, PHȲND, a subscription-free cloud gaming platform, has secured a $10 million seed round led by Wellington Management. Co-founded by tech and media innovator André Swanston, PHȲND 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 PHȲND’s 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. This massive installed base sets the stage for PHȲND’s disruptive entry into the market.
Cloud gaming allows consumers to enjoy video games on any internet-connected device, eliminating the need for expensive gaming hardware while keeping games up to date.
Advances in cloud-computing technology and the proliferation of high-speed internet are driving this market, which is projected to grow at a staggering 38% compound annual rate from 2024 to 2032, according to Fortune Business Insights.
Cloud gaming also opens up a tremendous new advertising opportunity for brands. 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. PHȲND connects brand marketers with the elusive big-screen gaming audience through non-intrusive audience-based ads and sponsorships, addressing a longstanding marketing challenge while boosting industry revenues amid rising costs. For consumers, PHȲND 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 PHȲND. “A decade ago, many experts claimed subscription streaming services would be the end of TV advertising,” Swanston noted. “Today, advertising is set to become the largest revenue source for streaming TV. Consumers love free content, and an advertising-sponsored gaming platform done right is a win for everyone.”
PHȲND will make gaming accessible to hundreds of millions of TV consumers who don’t own gaming consoles. At the same time, PHȲND’s analytic and marketing tools enable studios and publishers to engage and retain these potential gaming audiences more efficiently than across legacy distribution methods.
“We’re excited to support the PHȲND team in reshaping the gaming experience, and creating powerful new opportunities for players and developers,” added Jackson Cummings, Head of Wellington Access Ventures. “We expect André and his team to leverage their disruptive experience with connected TV in the gaming sector.”
“PHȲND will not only make gaming more accessible to players without consoles and gaming PCs but also create new exciting opportunities for developers and advertisers,” said Elliott Robinson, Partner at Bessemer Venture Partners. “We are excited to support this new chapter in cloud gaming.”
Players in the U.S. can now sign up for the beta waitlist at phynd.games.
About PHȲND
PHȲND is your FREE smart TV gaming experience. Also accessible on all devices, PHȲND offers a seamless way to discover, play, and socialize across a wide variety of games. Visit phynd.co to learn more about partnering with us.
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SOURCE PHȲND
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