Kaltura Announces $47 Million Additional Funding
The OVP plans to speed media, education, and enterprise product development and drive growth in Asia and Latin America.
Online video platform Kaltura announced $47 million in additional funding thanks to a round led by SAP Ventures, Nokia Growth Partners, Commonfund Capital, and Gera Ventures, all new investors. Previous investors Nexus Venture Partners, Intel Capital, Mitsui & Co. Global Investment, Inc., Silicon Valley Bank, and .406 Ventures also took part.
Kaltura plans to use the funding to speed product development and grow its business in Brazil, China, Mexico, Japan, Singapore, Korea, and Australia.
“Following our success in North America and Europe, we started addressing Asia Pacific and Latin America and were met by explosive demand,” says Ron Yekutiel, Kaltura's chairman and CEO. “We will continue to grow our operations in all four regions this year, as well as further accelerate our product development."
Products in the pipeline at Kaltura include live and OTT (over-the-top) analytics and monetization tools for media companies and service providers, webcasting services for enterprise customers, and lecture capture solutions for educational institutions.
New investor Gera Ventures is based in Brazil, and notes that Kaltura has already made impressive inroads in Latin America. It expects that to grow quickly due to this investment, says Leila Orenstein, a partner at Gera Ventures. She adds that Gera will help Kaltura grow in its three target verticals of education, media, and enterprise.
Company eyes Asia and plans to expand its presence in the educational technology sector
Video assets on campus are booming, but few institutions have a video management strategy, says Kaltura.
Calling it the killer app for media, Kaltura says MediaGo is an out-of-the-box solution with flexible sales models.