Kaltura’s open source video platform project has raised $47 million [£28 million] in additional funding to enable it to focus on plans for international expansion and developing the product.
The Israeli startup’s service is based on open source software that means its customers can host, publicise, manage, monetise and analyse all video content.
“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,” said Ron Yekutiel, Kaltura Chairman and CEO.
New investors SAP Ventures, Nokia Growth Partners, Commonfund Capital, and Brazil-based Gera Ventures led the latest finance round with additional participation from existing investors.
The fresh funding will be used to help Kaltura to expand into additional territories, specifically Brazil, Mexico, China, Japan, Australia, Singapore, and Korea, as well as help it to expedite its product development.
“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,” Yekutiel added.
Kaltura’s service is offered across three core areas of publishing, education and enterprise with customers including the likes of HBO, Wikipedia, Intel, Nestle, and Phillips, as well as Harvard, Yale, Stanford and many more reputable education institutions.
Its latest release was a Netflix-esque video product called Media Go that lets its clients create a video portal on a range of different devices and offer a streaming service in the same way that Netflix does. Kaltura’s latest funding round brings its grand total up to $115 million [£69.5 million].