Britannica Explains In these videos, Britannica explains a variety of topics and answers frequently asked questions.Demystified Videos In Demystified, Britannica has all the answers to your burning questions.This Time in History In these videos, find out what happened this month (or any month!) in history.#WTFact Videos In #WTFact Britannica shares some of the most bizarre facts we can find.Britannica Classics Check out these retro videos from Encyclopedia Britannica’s archives.The funding they’ve raised will only help them achieve that vision sooner. The startup’s focus on innovation and customer satisfaction, in and out of the gaming world, combined with the momentum already created through rising market values, gives Parsec a unique opportunity to become a key player in these dual markets. This may make all the difference when customers compare Parsec’s offering with those of its competitors. By focusing on gaming first, the startup has placed emphasis on superior streaming power. Most modern video games, multiplayer or not, require massive computing power - far more than average software applications like Microsoft Office. “From the beginning, we thought that if we could build something that is great for gaming, it will be great for everything,” Boxer said. Gaming First, Work Laterįrom the beginning, the company’s founders say they believed that if their service could handle gaming, it could handle work. These are impressive numbers, and the Parsec’s potential to cross over these two, only tangentially-related industries, will be something to watch. The team collaboration software market is anticipated to grow at a rate of over 13% in the next seven years, according to Fortune Business Insights, eventually reaching a valuation of $35 billion in 2027. Market research firm Mordor Intelligence notes that the game streaming market is still developing, so the time is ripe for consumers new and old to find products that suit their needs.įurthermore, key players in other industries like Amazon and Google are also attempting to get into the video streaming market - a clear sign that Parsec is on the right path. The game streaming market, for one, is growing at a compound annual growth rate of about 9%. However, this disparity in markets could mean twice the opportunity for the startup, and both industries are growing at a steady pace. The video game streaming market and the team collaboration software market are generally aimed at disparate groups, so the company’s role in bridging them is notable. One of the most interesting things about Parsec’s success is its position within two very different markets. Parsec’s total funding now sits at $33 million. The funding was led by Silicon Valley-based venture capital firm Andreessen Horowitz, with participation from previous investors Lerer Hippeau, Makers Fund, NextView Ventures, and Notation Capital. The startup recently raised $25 million in Series B funding for the continued expansion of the project. Investors are loving Boxer and Parsec’s results. “So in that scenario, people are bringing their computers back to the office, and they can use Parsec to make sure it’s always accessible to them,” he said. In that case, Parsec allows workers to access information from the same computer they use from work remotely, allowing for a seamless transition from work in the office to work-from-home. “People forget they’re using Parsec.”īoxer also said that he believes the remote work economy will continue for some time - even if only in part. “The performance of Parsec is just way above everything else,” he said. The company’s CEO Benjy Boxer, in an interview with TechCrunch, said that the Parsec experience is incomparable. This year, in order to accommodate businesses struggling to keep workers connected during quarantine, Parsec launched Parsec Teams, which allows users to work on the same file together remotely in an encrypted and low-latency project. The technology, according to Alley Watch, is a favorite among several large companies familiar to gamers and business professionals alike, such as EA, Ubisoft, and Square. The startup allows users to remotely connect to their computers as well as stream both their work and play activities. Similarly, the practice of playing video games has also skyrocketed during the pandemic using these technologies. This has required the widespread use of video communication tools to keep in contact with colleagues about projects one is working on while the office is closed. During the coronavirus pandemic, many businesses have had to endure restrictions and millions of people have been forced to work from home.
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