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Telstra leads US$ 35mn funding for online video specialist Ooyala

US firm Ooyala, a specialist in online video streaming, monetisation and discovery solutions, has raised US$ 35mn in a new investment round led by Australian telco Telstra.

Ooyala will use the new capital to fuel its market momentum with multi service operators and TV programmers. The company will add scale particularly to its operations outside of the US, building on its existing footprint in Europe, Asia, Australia and Latin America.

Telstra and Ooyala are already working on a commercial agreement that, once finalised, will mean Telstra will also become a major Ooyala customer and reseller, deploying Ooyala software, analytics and service offerings throughout Australia, where they will work with content owners to transition from traditional video delivery to IP-based distribution.

Ooyala reports that over half of its business is now generated outside the US, where large customer wins have helped it to quadruple revenues since its last funding round in September 2010.

Telstra Applications and Ventures Group, a subsidiary of Australia’s largest telecommunications and information services company Telstra, led the Series E round, with prior investors Sierra Ventures, Rembrandt Venture Partners and CID Group participating in addition to other strategic investors.

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