Back end web video service Ooyala added a fresh $43 million round of funding to its piggy bank today.
Ooyala provides online video managing services for customers who want to do more with their video content than just upload it to YouTube. The company provides video hosting, transcoding, analytics, and discovery services for its client. It’s very likely you’ve watched plenty of videos hosted by Ooyala clients, which include ESPN, Fox Sports, Comedy Central, TV Guide, and many more. And with over $3 billion in TV advertising revenue expected to be spent just next year (a lot of which will happen for content that’s available online), Ooyala definitely has plenty of opportunity to grow.
Ooyala said it plans to use the additional capital to boost development for its video streaming and analytics platform as well as to continue growth both domestically and in international markets.
The new round was led by Australia’s largest telecom company Telstra, which is also one of Ooyala’s biggest clients. The round brings the New York-based startup’s total funding to $122 million raised to date.