Video Distribution Service Ooyala Gets First Round From Sierra Ventures

Ooyala, a Mountain View, CA-based provider of video distribution infrastructure, has received a big first found of funding from Sierra Ventures, has learned. The company, formed by ex-Googlers Bismarck Lepe, Belsasar Lepe and Sean Knapp, previously raised an angel round from unidentified backers. Right now, the company will only say that Sierra is one of multiple companies it may raise funds from, though it won’t identify any others. An official announcement is likely to come in the next three weeks. Ooyala’s core product is Backlot, a full-featured platform for HD-capable distribution, video analytics and ad delivery. It identifies its main competitors as Brightcove and Move Networks, both of which have quite significant backing. Funding will go towards product development and sales.

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