Ooyala Raises $22M, Eyes Asian Markets

Mountain View-based video platform vendor Ooyala has raised more than $22 million in a new round of financing that includes new and existing investors. The company said it wants to use the new money to further its international expansion, and the choice of investors puts the spotlight on Asia: New to the table are the CID Group, which is headquartered in Shanghai, as well as Tokyo-based ITOCHU Technology Ventures.

The two companies were joined by existing investors Sierra Ventures and Rembrandt Venture Partners. Ooyala recently raised $10 million in a C round of financing a year ago, and has raised a total of $42 million so far. The company said that it may add additional investors in the coming weeks.

Along with its funding release, Ooyala also provided some updates on its current business. The company said it now serves video for “over 550 customers on 5,000 different sites, reaching over 100 million unique users per month.” A year ago, it claimed to have more than 500 customers.

Earlier this month, it said that it now has “20,000 direct and self-serve accounts” for its Backlot video management system. And Ooyala CEO Jay Fulcher wrote today in a blog post that the company now has close to 100 employees.

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Image courtesy of Flickr user Refracted Moments™.

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