Kaltura Receives $20M in Funding
Open-source online video platform Kaltura has received $20 million in its latest financing round, led by new investors Nexus Venture Partners and Intel Capital. Existing investors .406 Ventures, Avalon Ventures, and Silicon Valley Bank also participated in the fundraising round.
Unlike others in the space, Kaltura provides hundreds of APIs and its entire source code to developers, letting them customize their workflows and create their own rich media applications and plug-ins.
"Kaltura is a juggernaut. They're exceptionally well positioned to deliver online video at a time in the market when demand for online video is exploding," says Maria Cirino, managing director of .406 Ventures. "It has been an exciting ride and we look forward to the next chapter with this innovative company led by a passionate group of world class entrepreneurs."
Applications created by the Kalutra user base are available in the Kaltura Exchange, a marketplace for third-party applications, products, and services. Kaltura's global developer community includes thousands of registered members.
Intel Capital's investment will go toward enhancing delivery of rich media on tablets, mobile phones, and other connected devices, with emphasis on supporting the MeeGo mobile operating system, as well as Intel's AppUp app store.
"There is significant demand to facilitate the handling of online video on three screens within customized work-flows in tightly integrated applications," says Lisa Lambert, vice president at Intel Capital. "Kaltura is optimally positioned to take full advantage of this opportunity with its open technology, impressive customer base, and strong developer community."
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