Cable Technology Feature Article
Wheelings & Dealings: Kaltura Fuels Global Expansion with $47M in Fresh Funding
By Tara Seals, TMCnet Contributor
Kaltura, which runs an open-source video streaming and editing platform project, has secured an additional $47 million of funding, which it will use to fuel an ambitious international expansion. The Israeli startup already has a presence in New York, but it said that it plans to extend operations into Brazil, Mexico, China, Japan, Australia, Singapore and Korea.
“The rapid adoption of our technology around the globe is a testament to the central role that video plays in every facet of our connected lives,” said Ron Yekutiel, Kaltura chairman and CEO. “We are proud to enable and streamline the creation of hundreds of video-enabled applications and workflows, and to assist hundreds of millions of people to improve the way they work, learn, collaborate and entertain using video.”
The proposition for its platform is the fact that customers can host, publicize, manage, monetize and analyze all video content. Customers fall into three main buckets: publishing, education and enterprise, and some are heavy hitters, like HBO, Wikipedia, Intel (News - Alert), Nestle, and Phillips, as well as Harvard, Yale and Stanford Universities.
“Following our success in North America and Europe, we started addressing Asia Pacific and Latin America and were met by explosive demand,” Yekutiel continued. “We will continue to grow our operations in all four regions this year, as well as further accelerate our product development.”
Upcoming releases of the platform include advanced live, over-the-top (OTT) features, analytics and monetization solutions for media companies and service providers; webcasting capabilities for enterprises; and lecture capture capabilities for educational institutions.
The financing round was led by new investors SAP (News - Alert) Ventures, Nokia Growth Partners, Commonfund Capital and Brazil-based Gera Ventures, with participation from existing investors .406 Ventures, Nexus Venture Partners, Intel Capital (News - Alert), Mitsui & Co. Global Investment, Inc. and Silicon Valley Bank.
Brazil in particular, where the TV ecosystem is expanding rapidly, could be rife with opportunity. “Kaltura has shown great traction in Latin America already, and we expect that to grow significantly now with this new backing and expansion in the region,” said Leila Orenstein, partner at Gera Ventures. “We are especially excited about Kaltura’s business in the education sector, which is our own focus as well, but look forward to helping generate new business in all three target verticals through our broad network of connections.”
Edited by Cassandra Tucker