By Sahil Patel
JW Player, the New York-based tech startup behind the digital video player of the same name, has raised $20 million in a Series C financing round led by Greycroft Growth and Greenspring Associates, with additional participation from Cueball Capital and e.ventures.
With the new capital, JW Player plans to accelerate its global expansion, and invest in its sales, marketing, product, and engineering initiatives.
Specifically, the investment will go toward building what the company refers to as “the industry’s first open video ecosystem.” By pulling video consumption and audience data from its global network of publishers, JW Player hopes to offer content providers, brands, agencies, and video ad networks insights and best practices around video distribution, advertising, and monetization.
“Publishers are seeking video solutions that will help them grow and more-effectively monetize their audiences across mobile, desktop, and OTT devices,” said Dave Otten, co-founder and CEO JW Player in a statement. “At JW Player, we are squarely focused on leveraging our enormous footprint to create what we call the ‘open video ecosystem,’ a network of connected players that provides publishers with unique insights around how people are engaging with video.”
Founded as an open-source project in 2008, JW Player served as the original video player for YouTube. Since then, the company has grown its footprint among publishers seeking out video content across the globe. Each month, JW Player’s network of more than 2 million web and mobile sites delivers content to 900 million people globally, the company said.