CORRECTION: Kaltura Completed a $25 Million Round - NOT Restating Earnings, as Mistakenly Reported by Streaming Media Earlier This Week
Largest funding round to date highlights a year in which Kaltura reported significant customer wins and industry kudos
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In the subject line of the Wednesday edition of our Streaming Media Xtra e-newsletter, we mistakenly stated that Kaltura was restating recent earnings. Readers should note that it is KIT Digital, and not Kaltura, that is restating its earnings for the past 14 quarters. Please see that story here. We apologize to Kaltura and to our readers for the error.
As we noted in an article contained in that same newsletter, Kaltura has in fact just completed a $25 million fundraising round, its largest round to date. This round came on the heels of significant reported success. The company was recently recognized in Forbes as one of "six fast-growing tech companies;" in VentureBeat as one of the "next billion-dollar enterprise tech companies;" in Mashable as one of the "top 5 social enterprise technologies for business;" and in Business Insider as one of the "top 5 startups revolutionizing education" and one of the "5 greatest open-source technologies for 2012."
Kaltura reports that its offerings touch hundreds of millions of viewers, employees, and students, through deployments in more than 300,000 organizations, including leading media companies such as Wikipedia, HBO, Warner Brothers, Paramount, Glam Media, Blogher, Mevio, and Gogo Internet; leading corporations such as SAP, Accenture, Bank of America, AstraZeneca, Groupon, Zappos, Nestle, and IKEA; government agencies such as NASA, The European Television Guild, and the White House; and educational institutions such as Harvard, Yale, MIT, Stanford, Princeton, Cornell, Columbia, and NYU. Kaltura sells products and services directly to organizations, as well as via distributors and OEMs, such as InterCall and Blackboard.
Kaltura claims that it offers the industry’s most complete suite of commercial video applications, as well as an open-source development platform that includes hundreds of flexible and extendible APIs. Kaltura’s applications and platform enable video workflows, including ingestion, transcoding, management, distribution, publishing, engagement, monetization, and extensive analytics. Kaltura offers out-of-the-box video solutions and products including, for example, a standalone video management console, a private YouTube-like video portal, and online-video plug-ins for popular content management systems such as Drupal, SharePoint, Blackboard, Moodle, and Sakai. The platform, supported by a large global developer community of more than 40,000 members, also powers tens of off-the-shelf reference applications and hundreds of plugins, which can be found in the Kaltura Exchange. The Kaltura platform and its applications can be deployed either on-premise or on any public or private cloud (including Kaltura’s own SaaS cloud), and are supported on any device including PCs, tablets, smartphones, set-top-boxes, and connected devices.
Kaltura’s latest fundraising round included investments from Intel Capital, Nexus Venture Partners, .406 Ventures, Avalon Ventures, Mitsui & Co. Global Investments, and ORIX Ventures. Company representatives indicated that the company plans to use the funding to expand its presence in Asia and Latin America, as well as to support growth in each of its markets: media, enterprise, and education.
Kaltura’s Chairman and CEO, Ron Yekutiel, commented that “Kaltura has emerged as the leader in flexible video delivery designed for the cloud. What fuels the company’s hyper growth is the combination of our off-the-shelf products and apps with our flexible development platform, which enables us to launch integrated products that transcend us beyond the traditional online video platform space into other large industries such as education technology and enterprise collaboration. We intend to use this new funding to expand our product offering, and to grow into additional industries and geographies.”
With its growing momentum and additional funding, Kaltura is definitely a company to keep an eye on.