Ooyala Receives $43M Investment from Telstra
Will use the funds to advance its video streaming and analytics platform, as well as drive domestic and international growth.
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Online video platform Ooyala has taken in $43 million U.S. from Australian telecommunications company Telstra, which it will use to develop its video streaming and analytics platform. Ooyala will also use the investment to bolster domestic and international growth.
This funding is the latest chapter in Ooyala's deep relationship with Telstra. In June, 2012, Telstra Applications and Ventures group led a $35 million Series E funding round, which Ooyala said it would use to gain traction with multiple-service operators (MSOs) and TV programmers. At that time, Ooyala announced that Telstra would become a customer and also a reseller, marketing Ooyala's software, analytics, and service offering in Australia. Gary Traver, Telstra's media director, joined Ooyala's board of advisors.
"Telstra's recent investment is a reflection of the massive opportunity they see in the market, and is a great validation of our business model, our performance over the past year and a half, and our team," says Jay Fulcher, Ooyala's chief executive officer.
This year, Ooyala has completed multi-screen and analytics projects for Univision, Comedy Central, Shine Australia, Major League Soccer, the British Film Institute, and the PGA Tour. Other clients include ESPN and Bloomberg.
To date, Ooyala has taken in $122 million in funding.
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Telstra becomes a major investor, as well as a customer and reseller, offering Ooyala services in Australia.