FOR IMMEDIATE RELEASE
Ooyala Raises $10M to Fund Aggressive Expansion Plan
Rembrandt Venture Partners Leads Series C Funding Round
(Mountain View, CA) Oct. 13, 2009: Ooyala Inc., the leading provider of end-to-end video platform applications and services, today announced that it has closed a $10 million series C funding round. Current investors, including Sierra Ventures, participated in the round. New investor, Rembrandt Venture Partners, led the funding event. As part of the investment, In Sik Rhee, General Partner at Rembrandt, will be joining the Ooyala Board of Directors. With this round, Ooyala has raised $20 million.
"Video is the fastest growing technology segment, and is the next 'killer app.' Ooyala's intelligent video platform is accelerating the convergence of traditional media and the Web. Media and non-media companies alike are gaining a better understanding of their viewers and are better able to target both key messages and advertising - using the most advanced analytics processing engine in the industry," said Jay Fulcher, President and CEO of Ooyala. "With this round of funding, we will be focused on aggressively growing market share and continuing to build industry-leading products."
“Alloy Media & Marketing (Owners of prominent Online properties like Teen.com and Takkle.com) leverages Ooyala, not only to publish engaging high quality video for our consumers, but to also better monetize the experience for our clients. Back office process efficiencies add to the benefits achieved across several of our major online properties," commented Robert L. Bell, CTO at Alloy Media & Marketing."
Since its founding by former Googlers, Sean Knapp, Belsasar Lepe and Bismarck Lepe, Ooyala has been focused on building a profitable business with differentiated technology that can be leveraged by thousands of companies. With the recent addition of Jay Fulcher as CEO, a seasoned sales and marketing executive, Ooyala is well-positioned to pursue an aggressive global growth plan
"Online video is still the most exciting space on the Web and Ooyala is the most exciting company in the Online Video Industry," said In Sik Rhee. "The management team has done a phenomenal job of timing their entry in to this growth industry and building a platform that is integral to the future of many companies."
Jay Fulcher and Sean Knapp will be presenting at Streaming Media Europe, held in London, from October 14th-16th, 2009.
About Ooyala Inc.
Ooyala is a video technology company that provides a comprehensive software platform enabling the delivery, management, and monetization of high quality online video content. Its innovative analytics engine and monetization server allow video content owners to drive revenue by maximizing the value of their content. Ooyala has over 500 customers, including 150 global media and enterprise customers such as Warner Brothers, Wenner Media, Fremantle, Armani, Sybase and Electronic Arts.
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