Hola nabs $17MN funding round for CDN strategy
| 18 September 2015
CDN firm Hola has closed a $17 million Series C round of funding to accelerate video delivery.
Iris Capital (an Orange and Publicis Group strategic partnership) led the round, joined by Hola's existing investors and key industry figures. The latest funding will support Hola's product development goal to cut video publishers' costs for delivering video by 90%, while increasing reliability and speed.
With the latest round of funding, Hola will grow its engineering and product teams to build out the network's robustness as it goes to the mainstream market after several years of development.
The Hola CDN consists of a global network of dedicated servers running Hola's P2P technology coupled with code running on the viewer's side that utilises that network. Unlike traditional CDNs, Hola CDN streams video to the viewers from multiple servers in parallel, at high utilisation levels, and uses servers in lower-cost regions. This slashes prices for video distribution, while increasing speeds and reliability.
"Making the Internet faster has always been our passion," said Ofer Vilenski, CEO of Hola. "We've taken everything we've learned from building and managing a P2P network with our 53 million consumer users and built a P2P CDN network that pools server resources to create new cost efficiencies and capabilities that provide video publishers unmatched cost savings with increased quality."
The Hola CDN is already in use with 12 video publishers that are participating in a pilot programme and will achieve general availability in the fourth quarter of this year.
"We are excited to take part in Hola's entrance into video CDN and the innovation they are bringing to address the ever-growing bandwidth of video distribution. Its market-leading P2P technology is already dominating two major markets and now will disrupt the $5 billion/year CDN market," said Jacky Abitbol, Venture Partner at Iris Capital. "We look forward to watching the company grow and expand its talented team to create a competitive product and build a strong presence in a dynamic market."