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Online video platform startup Ooyala has raised a $22 million fourth round as part of a plan to expand globally. The company has raised a total of $42 million in the past three years and isn’t done raising capital yet. The round was over-subscribed, Mountain View-based Ooyala says, and it expects a second closing to accommodate additional investors.
The round was led by new investors CID Group and ITOCHU Technology Investments. Existing investors, Sierra Ventures and Rembrandt Venture Partners, also participated.
CEO Jay Fulcher indicated that the company would be ramping up its presence in Asia, hence the lead roles in the funding by CID Group and ITOCHU. The company already has a Tokyo outpost. “The entire APAC region is experiencing tremendous growth in online video viewership,” Fulcher said. “These strategic investors will help position Ooyala as the leader in this large and thriving market.