ADOTAS – Online video technology provider Ooyala announced today it had raised $35 million in a series E round of funding, with Australian telecom company Telstra leading and existing investors Sierra Ventures, Rembrandt Venture Partners and CID Group also participation. As a result of Telstra’s investment, it’ll also become a Ooyala customer and reseller, utilizing Ooyala’s software, analytics and other services in Australia, where Telstra is ramping up efforts to transition into an IP-based distribution model.
Meanwhile, Ooyala announced it’ll use the fresh funding to continue developing its presence among mutli-system operators (MSOs) and television programmers, especially in markets outside the U.S. According to a statement from the company, over half of its business is outside the U.S. right now, and its revenues have quadrupled since receiving Series D funding in September of 2010, which the statement says makes it the fastest-growing company in the online video market.
Telstra Media director Gary Traver, who’s also been named to Ooyala’s board of advisors, said in the statement, “The industry is now standardizing around technology stacks that enable the future of IP-based distribution,” and he said Ooyala’s “robustness and focus on personalization and profitability” makes it the platform on which the next generation of large-scale deployments are built.” Companies that currently use Ooyala’s technology include ESPN, Miramax, Bloomberg, Victoria’s Secret, Telegraph Media Group, The North Face, Rolling Stone, Dell, Sephora and Yahoo! Japan.