Vessel raises further $57.5MN funding

DetailsJoseph O'Halloran | 19 April 2015

Only three weeks after the online video service launched, Vessel has been given a $57.5 million cash injection from investors led by Institutional Venture Partners (IVP).

VesselIVP is a later stage venture capital and growth equity firm with more than $4 billion in committed capital and which has already invested in over 300 companies such as Dropbox, Domo, HomeAway, Kayak, LegalZoom, LifeLock, Netflix, Shazam, Snapchat, Supercell and Twitter.

"We're proud of our team and what they have built, but we also know there is much more for us to do; our best days and biggest innovations lie ahead," Vessel CEO Jason Kilar said in a blog post. " Our content team is working hard to bring you early access to even more of your favourites and to respond to the thousands of creators who have applied to offer their videos on Vessel. Our engineering team is working hard too, to bring people more of the features they've asked us for and to make Vessel available in more of the places people want it (starting with an Android app that will launch soon)."

Added IVP General Partner Todd Chaffee: "We believe Vessel has the potential to be as successful as these companies someday...Vessel CEO Jason Kilar believes that the investors will enable the company to grow, as a company and a business, equipped with the world-class team and resources we need to make our visions real. If you had to back one team to build the world's most advanced and user-friendly video platform, this would be the team. Jason and Rich [Tom CTO] have assembled an exceptional management team, and they have some of the best video engineers on the planet."