Cleveland-headquartered start-up BoxCast buys competitor after big gains during pandemic
Cleveland-based streaming company BoxCast is announcing today that it has purchased a similar streaming business, Stream Monkey. This news comes after BoxCast announced in 2020 that it had raised $20 million from investors.
News 5 first visited BoxCast in the early days of the pandemic when they were seeing a quick and sharp spike in demand for their product, which simplifies the process of streaming live events. In just the first few days of COVID-related Stay At Home orders, BoxCast saw it’s orders increase 10-fold from churches, cities, schools and any other organization that suddenly had to reach more people over the internet.
“All those sporting events are canceled and yet we still saw a five to 12-times increase in viewership over normal,” BoxCast CEO and Co-Founder Gordon Daily told News 5 in March 2020.
A year later, the company has doubled in size, now employing more than 70 employees and still has multiple open positions listed on its website. The new investments and acquisitions help the company keep up with the growing demand for more, high-quality streaming.
This article originally appeared on news5cleveland.com on March 23, 2021.