Ooyala Gains $35M in Series E Funding
Online video platform Ooyala has raised $35 million in Series E funding in a round led by Telstra Applications and Ventures group, a subsidiary of Australia's Telstra. Sierra Ventures, Rembrandt Venture Partners, and CID Group, all of which have taken part in previous Ooyala funding rounds, also joined in.
Ooyala plans to use the new funding to gain traction with multiple-service operators (MSOs) and TV programmers. In particular, it plans to scale up operations outside the United States, working in Europe, Asia, Australia, and Latin America. The company notes that the majority of its business is now outside the U.S.
Along with being an investor, Telstra will soon be an Ooyala customer and reseller. It plans to market Ooyala's software, analytics, and service offerings in Australia, selling to broadcasters switching to IP delivery. Telstra will integrate Ooyala's online video technology and analytics offerings with its own multi-device IPTV services.
As part of the announcement, Gary Traver, Telstra Media's director, has joined Ooyala's board of advisors.
"Telstra's investment, and the commercial deal we're working on, shows how demand is increasing worldwide for our platform and services. Our focus on big data and analytics from day one is paying off as more major players standardize on Ooyala," says Jay Fulcher, Ooyala's CEO.
Will use the funds to advance its video streaming and analytics platform, as well as drive domestic and international growth.
Trying to simplify mobile and connected TV streaming, Ooyala intros tools that take the complexity out of online viewing.
Quarterly report also charts the rising popularity of live video streaming, suggesting revenue strategies.
People are tuning in for longer online videos, says an Ooyala report, bringing an opportunity for more mid-roll video ads.
Engine will bring personalized video recommendations to all customers, increasing views and engagement.