As over-the-top (OTT) viewing becomes increasingly popular via services such as Netflix, Amazon and Hulu, network skinny bundles and a growing array of standalone apps, the big money from the investment community follows.
Today, OTT and streaming technology provider Kaltura announced that it has secured a $50 million pre-IPO funding from Goldman Sachs’ Private Capital Investing group. It will use the funding to expand its presence globally and bolster its positioning as an “everything video” company, providing video products for a wide variety of markets and use cases, including solutions for OTT TV and video monetization, enterprise video and educational video, as well as cloud video services.
“Video is booming. It is the favorite data type for communication, collaboration, teaching & learning, marketing, and entertainment,” said Ron Yekutiel, Kaltura chairman and CEO, in a statement. “Kaltura is in a unique position to capitalize on this huge market opportunity since it provides the broadest set of video products and capabilities to customers across all industries.”
This isn’t the first big funding round for Kaltura. In Feb. 2014, it raised $47 million in a round led by new investors SAP Ventures, Nokia Growth Partners, Commonfund Capital and Brazil-based Gera Ventures, with additional contributions from existing investors including .406 Ventures, Nexus Venture Partners, Intel Capital, Mitsui & Co. Global Investment and Silicon Valley Bank.
With its latest (sixth) round of investment, Kaltura has now raised $165.1 million dollars, according to CrunchBase.
Founded in 2006, New York-based Kaltura now has over 400 employees wordwide. Its clients include major U.S. entertainment companies including Viacom, HBO, ABC, Turner, Warner Bros. and Paramount, as well as Vodafone Spain, the first pay TV outlet to carry Netflix in Spain, and Moviepilot.de, the digital movie hub established by German media tech firm Webedia.