Online Video Platform Ooyala Raises $35 Million
Digital video platform Ooyala has a U.S. address, but big global reach. Now it's getting some guidance, and lots of cash, from an overseas investor.
The Mountain View, California, start-up announced on Monday that it has raised $35 million in a series E funding round led by Telstra, Australia's largest telecommunications company.
In addition to making a capital investment, Telstra added its media director, Gary Traver, to Ooyala's board of advisors, and has begun negotiating a commercial agreement that make Telstra one of Ooyala's largest customers and resellers.
With the infusion of capital and access to Telstra's numerous international properties, Ooyala plans to bring its video streaming and analytics solutions to more international customers.
More than half of Ooyala's business come from outside the U.S., and the Silicon Valley company says it has quadrupled revenues since its last funding round in September 2010.