Wellington Management and Bessemer Venture Partners Support Media Founder André Swanston’s Cloud Gaming Initiative

STAMFORD, Conn., Feb. 11, 2025 — PHȲND, a free cloud gaming platform, has received $10 million in seed funding, spearheaded by Wellington Management. Co-founded by André Swanston, PHȲND aims to provide broad access to high-quality gaming on smart TVs and other connected devices through its free-to-play model. The oversubscribed round also included participation from Bessemer Venture Partners, Connecticut Innovations Fund, and Jozy Altidore.

This significant investment will drive PHȲND’s development and its anticipated 2025 beta launch.

Over the last five years, over 500 million smart TVs capable of running a cloud gaming app have been sold globally, exceeding the combined number of gaming PCs and consoles. This large existing market positions PHȲND for substantial market disruption.

Cloud gaming lets users play games on any internet-connected device, eliminating the need for costly gaming hardware and ensuring games are always up-to-date.

Advances in cloud computing and the growth of high-speed internet are fueling this market’s expansion, projected to increase at a 38% compound annual rate from 2024 to 2032, according to Fortune Business Insights.

Cloud gaming also presents a major new advertising opportunity. Currently, TV or large-screen video games only generate about 7% of revenue from ads, compared to 50% for the wider media industry. PHȲND connects brands with the large-screen gaming audience using non-intrusive, audience-based ads and sponsorships, solving a long-standing marketing challenge while increasing industry revenue amidst rising costs. For users, PHȲND offers free access to high-quality games on existing devices, unlike other gaming platforms charging up to $30/month.

Swanston, who previously led Tru Optik (before its substantial acquisition) in revolutionizing targeted advertising on smart TVs and speakers, foresees a similar path for PHȲND. “A decade ago, many experts predicted subscription streaming would end TV advertising,” Swanston noted. “Now, advertising is set to become streaming TV’s biggest revenue source. Consumers prefer free content, and a well-executed advertising-supported gaming platform benefits everyone.”

PHȲND will bring gaming to hundreds of millions of TV viewers without gaming consoles. Simultaneously, PHȲND’s analytics and marketing tools allow studios and publishers to reach and keep these potential gaming audiences more effectively than traditional distribution methods.

“We’re thrilled to back the PHȲND team in transforming the gaming experience and creating strong new opportunities for players and developers,” said Jackson Cummings, Head of Wellington Access Ventures. “We anticipate André and his team will use their disruptive experience in connected TV within the gaming industry.”

“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

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 to learn more about partnering with us.

SOURCE PHȲND