New York-based open source video platform Kaltura secures $47M

February 11
8:56 PM 2014

Kaltura, a New York-based firm that provides the world's first Open Source Online Video Platform, has secured $47 million in additional funding, VentureBeat reported. New investors SAP Ventures, Nokia Growth Partners, Commonfund Capital and Gera Ventures based in Brazil led the round. Existing investors .406 Ventures, Nexus Venture Partners, Intel Capital, Mitsui & Co. Global Investment, Inc, and Silicon Valley Bank also joined in the round.

In a statement about the funding, Kaltura Chairman and Chief Executive Officer Ron Yekutiel said, "The rapid adoption of our technology around the globe is a testament to the central role that video plays in every facet of our connected lives.  We are proud to enable and streamline the creation of hundreds of video-enabled applications and workflows, and to assist hundreds of millions of people to improve the way they work, learn, collaborate, and entertain using video."

Kaltura's platform allows hosting, publishing, managing, monetizing and analyzing of video content by its customers. Its wide collection of video products spans various areas, which include publishing, education and enterprise. It has also rolled out a new product called MediaGo which enables clients to make their own video portal similar to Netflix in multiple devices, the report said.

Kaltura said it will use the proceeds from the recent funding round to hasten the development of its product and expand its operations in more countries, including Brazil, Mexico, China, Japan, Australia, Singapore and Korea.

Aside from Kaltura MediaGo, the company's social video portal CorporateTube leads the enterprise market as it encourages knowledge sharing and promotes employee creativity and engagement. It is also making a difference on the education front by powering the newest video-based trends like Flipped Classrooms and Social Learning, the statement said.

The latest financing for the startup that counts HBO, TMZ, ABC, Warner Brothers, Paramount, Bank of America, Harvard and California State University, among others, as its customers brings to $115 million the total amount raised so far, VentureBeat reported.

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