Kaltura, a New York-based video software platform, just raised $25 million in Series D funding. It's on target to become the next billion-dollar video company.
Ron Yekutiel, the CEO and chairman of Kaltura, the six-year-old video-platform company based in New York, thinks we've just entered the first phase of a video revolution.
"Providing flexible tools to consume video is one of the biggest trends on the Internet today," Yekutiel says. "People look at YouTube and say, 'Oh, video has been cracked.' But it's the first very small step toward cracking the real-user video. There's disruption happening.'"
In its early days, Kaltura began as a tool for publishers to upload and manage content. Now, it's become much more. With more than 200 employees, Kaltura has carved a niche for itself in three major verticals--enterprise, education, and media--as the premier platform for video integration. With its enterprise business, for example, Kaltura provides the video platform for companies such as SAP, Accenture, Bank of America, AstraZeneca, Groupon, Zappos, Nestle, and IKEA to communicate with customers and employees through video.
In education, Kaltura provides the back-end video support for schools such as Harvard, Yale, MIT, Stanford, Princeton, Cornell, Columbia, and New York University.
Essentially, Kaltura makes it easy for adminstrators to upload, edit, and dissemintate video easier. And today, Kaltura announced it will continue in its expansion.
The company announced it has raised $25 million in funding from a coterie of domestic and international investors, including Mitsui & Co. Global Investment and Orix Ventures, along with current investors Nexus Venture Partners, Intel Capital, .406 Ventures and Avalon Ventures. The Series D round of funding brings the total amount of capital raised to about $68 million.
According a recent Cisco report, the mobile Internet is increasingly driven by rich multimedia content. By 2015, the report predicts that more than 90% of all Internet traffic is expected to be video.
"It's going to be inside every system," Yekutiel says. "It's a very significant change that's ahead of us. I think that by having a flexible and open source option, we have lubricated that revolution."