Open source online video distribution platform Kaltura Monday said it had landed $20 million in new financing led by new investors Nexus Venture Partners with participation from Intel Capital, existing investors .406 Ventures and Avalon Ventures, and technology lender Silicon Valley Bank.
The New York-based company said its open-source video management platform has rapidly grown to become the most widely adopted solution in the market, and claiming to eclipsing the combined publisher-base of all proprietary online video platforms, serving more than 100,000 publishers.
Kaltura's products and services cater to companies across all sectors with focus on four verticals--media companies, enterprises, educational institutions, and service providers. Users include Fox, Paramount, HBO, Warner Brothers, The Times of India, Best Buy, Texas Instruments, Coldwell Banker, MIT, Yale, Stanford, Princeton, NYU, Columbia University, and Siemens.
Kaltura sets itself apart from proprietary vendors by openly providing hundreds of APIs and the entire source code in order to enable customers, integrators, and developers to customize their own workflows and to develop their own distinct rich-media applications and plug-ins.
"Kaltura is disrupting the online video space in a similar way to how open-source Red Hat and MySQL have disrupted their fields of operating systems and databases," said Ron Yekutiel, Kaltura Chairman & CEO. "We are honored to have gained the support of Intel Capital and Nexus Venture Partners who have played an important role in the success of these two open-source giants. Kaltura's financial success and the premium investors that it attracts demonstrate once again that there is indeed no dissonance between doing good, and doing well."
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