$47M brings southern comfort to Kaltura, specifically South America and South East Asia
Set for major new and emerging market expansion, Kaltura is one of the few digital media technology companies taking the Enterprise and Education market seriously
Kaltura, Israeli statup and open source video platform, has announced the closing of a massive $47M funding round. The financing round was led by new investors SAP Ventures, Nokia Growth Partners, Commonfund Capital, and Brazil-based Gera Ventures with participation from existing investors .406 Ventures, Nexus Venture Partners, Intel Capital, Mitsui & Co. Global Investment, Inc., and Silicon Valley Bank. Kaltura announced the intended use of the new funds will be to help with global expansion into large markets outside the U.S. including Brazil, Mexico, China, Japan, Australia, Singapore, and Korea.
When more is good
It’s not uncommon for large follow on investments to serve as a signal for concern, with committed VC’s looking to double down on previous investments rather than cut losses on promising companies that have failed to reach expected milestones. However, when larger follow on investments include several new funds, among them powerful corporations like SAP, the stated reason of new market expansion can be taken at face value and should signal a very positive scenario for both the startup and its investors.
In this particular case, the funding comes on the heels of a very successful year for Kaltura whose client roster now includes HBO, ABC, Warner Brothers, Paramount, DirecTV, Turner, and Wikipedia; leading corporations such as Bank of America, Intel, SAP, Century 21, Ericsson, Danone, Discount Tire, Accenture, AstraZeneca, Groupon, Nestle, Philips and IKEA; and leading educational institutions such as Harvard, Yale, Stanford, Durham, Warwick, Princeton, Cornell, Columbia, California State University and NYU. Kaltura’s distributors and channel partners include Atos, InterCall, Blackboard, Desire2Learn, Ellemedia and Cognos Online.
Kaltura has managed to hit its stride in a market whose potential is massive but whose structure is still somewhat Wild West like in nature. Digital video entertainment is phasing out old school large networks with its on demand, end user-centric focus.
There’s also a massive yet much overlooked enterprise and educational market for internal content sharing and online learning that has not been adequately addressed by technology providers in the same way that the entertainment market has been.
Kaltura’s tackles such issues with their OTT solutions addressing audience reach, user engagement, as well as revenue through their various products which include Kaltura MediaGo™ for entertainment, CorporateTube™ for enterprise communication and CampusTube™ with its deep integration of Learning Management Systems like Blackboard, Moodle, Desire2Learn and others for the education sector.
“Following our success in North America and Europe, we started addressing Asia Pacific and
Latin America and were met by explosive demand,” said Co-Founder and CEO Ron Yekutiel. “We will continue to grow our operations in all four regions this year, as well as further accelerate our product development. Upcoming releases include advanced live, OTT, analytics, and monetization solutions for media companies and service providers; webcasting capabilities for enterprises; and lecture capture capabilities for educational institutions.”
Kaltura was founded back in 2006 by Ron Yekutiel, Shay David, Eran Etam and Michal Tzur. The company has offices in Ramat Gan, London, New York and San Francisco. With this latest funding round Kaltura’s total investment value now stands at $115M.