Online video platform startup Ooyala has raised $10 million in a third round, which it says it will use to fund “aggressive growth.” New investor Rembrandt Venture Partners led the round; existing investors, including Sierra Ventures, also participated. Businesses use Ooyala’s Backlot platform to publish and monetize their online videos. Customers include Warner Brothers, Wenner Media, and Electronic Arts (NSDQ: ERTS). The company — which was founded by three former Google (NSDQ: GOOG) employees in 2007 — will have now raised $20 million since its inception, including $8.5 million in a round in January 2008. In August, Ooyala hired former Agile Software CEO Jay Fulcher as CEO.
Robert adds: Ooyala CEO Jay Fulcher, speaking whilst in London, told me the money will fund international expansion, new product line-ups and upcoming partnerships over the next two quarters…
“We will probably be doubling, possibly even tripling our operation (from over 60 staff) over the next 12 months.” Half of Oolaya’s usage today is from outside America. “There’s a very big market outside the U.S.,” Fulcher says.
He’s targeting Europe and Asia, starting by expanding the small London sales office, expanding across Europe and in to the Far East. Ooyala is inking several reseller relationships, one due to be announced in Japan, and targeting Korea, too. “We’re intrigued by China.”
Though other companies already exist to service individual parts of the video value chain, Fulcher’s play for Ooyala is the whole “end-to-end” spectrum, from transcoding to end monetization. Though individual vendors may be able to specialize in particular areas, Fulcher says clients like “the ability to rely on a single vendor”. On that stage, “there’s Ooyala and there’s Brightcove – and then a slew of very small individual point solutions of varying degrees of quality,” he says. Release.