Kaltura looks to Asia as it grabs extra $25MN funding to develop online video
Open source online video platform Kaltura has secured a $25 million line of funding to fuel its current rapid growth and continued global expansion.
Editor | 20-11-2012
The company claims that its "unique" open source video platform continues to disrupt the market, "revolutionising" how people are entertained with online video. It offers what it claims is the industry's most complete suite of commercial video applications as well as an open source development platform that includes extendible APIs. Customers include leading media companies such as HBO, Warner Brothers and Paramount.
The new funding comes from a group of existing investors including Intel Capital, Nexus Venture Partners, .406 Ventures and Avalon Venture, as well as new investors Mitsui Global Investment and Orix Ventures.
With the new funding in place, Kaltura plans to expand its product offering, strengthen and expand its presence in the Americas and Europe, and set its sights on the Asia-Pacific region.
"Kaltura has emerged as the leader in flexible video delivery designed for the cloud. What fuels the company's hyper growth is our flexible platform, which enables us to launch integrated products that transcend us beyond the traditional online video platform space" said Ron Yekutiel, Kaltura chairman and CEO. "We intend to use this new funding to expand our product offering, and to grow into additional industries and geographies," he added.
"As growth stage technology investors, we analyse a lot of companies in the enterprise software space in search of the best investments," said Jeff Bede at ORIX Ventures. "Kaltura clearly stands out with its breadth of offerings, strong customer traction, cross-industry appeal, and overall disruptive vision for the delivery of video in our lives. We are thrilled to have joined Kaltura."