By Sahil Patel
NY-based video startup Kaltura has raised $47 million for continued product development and expansion into more international markets.
The new funding round was led by new investors SAP Ventures, Nokia Growth Partners, Commonfund Capital, and Brazil-based Gera Ventures, with additional contributions from existing investors like .406 Ventures, Nexus Venture Partners, Intel Capital, Mitsui & Co. Global Investment, and Silicon Valley Bank.
With the new capital, Kaltura, which operates an open-source video platform for companies to host, manage, and monetize video content, hopes to expand to Brazil, Mexico, China, Japan, Australia, Singapore, and Korea. The announcement identifies Nokia Growth Partners and Gera Ventures as two of the investors which would look to help Kaltura meet its expansion goals.
“Following our success in North America and Europe, we started addressing Asia Pacific and Latin America and were met by explosive demand,” said Ron Yekutiel, chairman and CEO of Kaltura, in a statement. “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.”
Kaltura customers include leading video content providers like HBO, ABC, Warner Bros., Paramount, DirecTV, Turner, and Wikipedia; large-scale corporations such as Bank of America, Intel, SAP, Ericsson, Groupon, and Nestle; and educational organizations like Harvard, Yale, Stanford, Princeton, Cornell, Columbia, and NYU.
Kaltura also offers an OTT solution called Kaltura Media Go, which is designed to help content owners launch their own “Netflix-like” video platforms, according to the company.
This new funding brings Kaltura’s total amount raised to $115 million.