Open source video platform Kaltura has secured a new round of funding worth $47 million that puts the overall valuation of the company at around $250 million. The round is led by SAP Ventures, the German business software giant SAP business arm, and by Nokia Growth Partners, CommonFund and Gera Ventures. They were joined by existing shareholders including Intel Capital, 406 Ventures, Nexus Venture Partners, Mitsui & Co. Global Investment, Inc., and Silicon Valley Bank.
Kaltura will use the additional capital to further accelerate product development, and extend operations into Brazil, Mexico, China, Japan, Australia, Singapore, and Korea, the official press release said. Funding should give a welcome boost to the position of the company in an IPO planned for some point this year.
Founded by Israeli entrepreneurs in 2006 with headquarters in New York, the software startup has attracted a total of $115 million in funding thus far and employes a team of over 200 people. It joins the ranks of a handful of startups with Israeli founders to have raised more than $100 million before an IPO, according to Haaretz.
Under the management of founders Ron Yekutiel, Shai David, Michal Tsur and Eran Etam, Kaltura provides software products and services for the corporations who want to manage their own online video content. Clients can upload information related to the videos, convert them to appropriate formats for a variety of platforms, manage the video content and its accompanying information, distribute it to websites and locations, and help monetize it through advertising and services, such as video on demand. Data and software can either be installed and hosted in clients’ own servers or in the cloud.