Ooyala, the digital video platform, has raised $35 million in a Series E round of funding, led by Telstra Applications and Ventures Group, with prior investors Sierra Ventures, Rembrandt Venture Partners and CID Group participating in addition to other strategic investors.
The company will use the new funding to fuel its market, particularly in scaling its operations outside the US. Currently, over half of the company’s business is outside of the US. The company has managed to quadruple its revenue since its last round of funding in 2010. It delivers content to over 6,000 domains, reaches nearly 200 million viewers. About one in four Americans watch video strained on Ooyala every month.
“The lines between online video and TV are blurring,” said Jay Fulcher, CEO of Ooyala. “Service operators everywhere are redefining their offerings for digital, multi-screen consumption. Ooyala has been the driving force the past few years, innovating and helping broadcasters and operators transition their business models to not only maintain but improve the economics of traditional television.”
Australia’s leading telecommunications and information services company, Telstra is also working with the company to become a major Ooyala customer and reseller, joining a network of other resellers that include Telefonica and Yahoo Japan. The deal would make Telstra one of Ooyala’s largest resellers.
Gary Traver, Telstra’s media director, will join Ooyala’s board of directors as part of the deal.
“The industry is now standardizing around technology stacks that enable the future of IP-based distribution,” Traver said. “With Ooyala’s robustness and focus on personalization and profitability, it is becoming the platform on which the next generation of large-scale deployments are built.”
This latest round brings the company’s total funding to $79 million.