Ooyala Raises $22 Million To Accelerate Global Expansion
Ooyala Inc., a provider of video-platform applications and services, has raised more than $22 million in a round of financing from new and existing investors.
“This financing will accelerate our pace of innovation and new-customer acquisition as we continue to set the bar for how customers utilize and monetize video,” says President/CEO Jay Fulcher. “Our publishers all across the globe are intensely focused on making more money with online video, and we are helping them achieve their goals.”
Ooyala has now raised a total of $42 million in 3½ years. This round was oversubscribed, and the company expects a second closing within the next 60 days. The CID Group and ITOCHU Technology Ventures led the round, which also included current investors Sierra Ventures and Rembrandt Venture Partners.
Over the past year, Ooyala has nearly doubled its global customer base, signing several hundred new publishers. It currently serves more than 550 customers on 5,000 sites, reaching more than 100 million unique users per month.
Ooyala has reported record revenue and margins throughout 2010, with more than 300% year-over-year top-line growth. It is expanding into new regions around the world and last week appointed John Treloar, a former Adobe executive, to run its Australia/New Zealand operations. In addition to headquarters in Mountain View, CA, Ooyala now has offices in Los Angeles, New York, London, Paris, Sydney, and Guadalajara, Mexico.