The Enterprise
Codices provides livestream broadcasters with the tools required to engage with their audiences interactively. Founded in 2018 out of Falmouth University Launchpad by Tim Edwards and Fern Pombeiro, the company’s first-to-market interactive software solution, Quiz Kit, is the leading gameshow creation tool on Amazon owned Twitch, the world’s leading video game livestream platform.
With a global video streaming market worth $54bn and growing at 20% per annum, and interactive shows a key driver of this growth, Codices’ ambition has been bigger than Quiz Kit from the beginning. Acting as a front end to deliver its technology to a large market, Quiz Kit has enabled Codices to quickly and cost effectively develop, test and validate new formats and monetisation mechanics, which it is using to inform the development of its own platform, Moar. Moar will be the first platform that allows anyone to create, watch and run live interactive shows through its native app.
The Funding
Codices secured £500,000 of CIOSIF equity investment across two funding rounds in 2020 and 2022. Additional private investment was leveraged totalling £1+million across the funding rounds.
The Impact
Since the initial CIOSIF investment in 2020, Codices’ Twitch user base has grown from circa 500 monthly active broadcasters and 150,000 monthly active viewers to circa 16,000 monthly active broadcasters and 3 million monthly active viewers. The funding has enabled investment in product development and new hires to focus on the progress of Codices’ Moar platform, helping bring this core product closer to launch. Moar is now in beta testing with 18 leading creators who have an audience reach of more than 19m viewers.
“The CIOSIF funding and leveraged private investment has meant we can push ahead with our new product launch as we build upon the knowledge and progress gained over the last few years. Alongside our other investors, The FSE Group has been key in helping us get to where we needed to be in terms of funding and associated support.” Tim Edwards, CEO & Co-founder, Codices
Codices will be publicly announcing Moar and its features on March 29th which anyone can watch at the following link: https://www.eventbrite.com/e/moar-the-interactive-livestreaming-platform-tickets-293156989447