Open source video platform Kaltura Inc. has raised $47 million.The financing round was led by new investors SAP Ventures, Nokia Growth Partners, Commonfund Capital, and Brazil-based Gera Ventures with participation from previous investors .406 Ventures, Nexus Venture Partners, Intel Capital, Mitsui & Co. Global Investment, Inc., and Silicon Valley Bank.
Kaltura will use the proceeds to accelerate product development, and expand operations into Brazil, Mexico, China, Japan, Australia, Singapore, and Korea. The company has raised $107 million to date including these latest funds.
Kaltura has gained increasing recognition over the past year and was named 'One of 10 Wildly Successful Startups' by Inc. Magazine, 'One of 5 Companies That Made Media Consumption Smarter This Year' by Forbes, 'One of 5 Companies That Transformed Enterprise Communication in 2013' and 'One of Top 5 Startups Revolutionizing Education' by Business Insider.
Kaltura was founded in 2006 by chairman and CEO Ron Yekutiel, president Dr. Michal Tsur, chief revenue officer Dr. Shay David, and VP R&D Eran Etam. The company's open source online video platform enables anyone to upload video, images, or sound onto a website, and offers encryption, management distribution, and rich media content analysis capabilities. The platform supports all computers and mobile devices, including smartphones and tablets. Kaltura is headquartered in New York City, its R&D center is in Ramat Gan, and it has offices in San Francisco and London.
Yekutiel said, "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. 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."
Kaltura customers include: leading media companies such as HBO, ABC, Warner Brothers, Paramount, DirecTV, Turner, and Wikipedia; leading corporations such as Bank of America, Intel, SAP, Century 21, Ericsson, Danone, Discount Tire, Accenture, AstraZeneca, Groupon, Nestle, Philips and IKEA; and leading educational institutions such as Harvard, Yale, Stanford, Durham, Warwick, Princeton, Cornell, Columbia, California State University and NYU. Kaltura distributors and channel partners include Atos, InterCall, Blackboard, Desire2Learn, Ellemedia, and Cognos Online.
Yekutiel added, "Following our success in North America and Europe, we started addressing Asia Pacific and Latin America and were met by explosive demand. We will continue to grow our operations in all four regions this year, as well as further accelerate our product development. Upcoming releases include advanced live, OTT, analytics, and monetization solutions for media companies and service providers; webcasting capabilities for enterprises; and lecture capture capabilities for educational institutions."
Published by Globes [online], Israel business news - www.globes-online.com - on February 11, 2014
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