Kaltura completes $25M financing round
Israeli developer of online video publishing, management solutions is expanding its development operations in Israel, marketing arrays in Asia and South America
To date Kaltura has raised some $55 million, including the current round – the company's fourth – which is lead by newcomers to the company Mitsui and Orix, both Japanese.
Kaltura turned to Japanese investors following a decision to enter the Asian market, particularly Japan, which is regarded as a major global market with high demand for large video volumes on mobile and desktop Internet.
Following the round, Kaltura is set to expand its Asia and South America marketing arrays and will be seeking new acquisitions both in Israel and abroad. Kaltura will also expand its development center in Israel and add another 20 employees to its 100-employee staff in Israel, in addition to its 100-employee staff in San Francisco and 20-employee staff in Europe.
Kaltura is regarded one of the world's leading developers of video management systems and a rival of Brightcube – the global media market's No. 1 supplier. Other rivals are Cisco and Polycom, which operate in the enterprise video solutions market.
The value of the media and enterprise market is an estimated at $1 billion each.
Rapidly approaching profitability
Kaltura has supplied its systems to some 300,000 organizations worldwide thus far. Among its clients are HBO Disney, TMZ, NBC, ABC, Paramount, Wikipedia and Gogo Inflight Internet.
Other clients, which use Kaltura's video platform for internal and customer service uses, include SAP, AT&T, IKEA, BestBuy, Zappos, Bank of America and Intel.
Estimates on the market are that Kaltura's annual earnings are $70-$60 million and it is rapidly making its way towards profitability.
Despite favorable figures, the company is not planning to issue stock in the next several years. Tech blog Venture Beat cited Kaltura among the six next billion-dollar enterprise tech companies.
This report was originally published in Hebrew by Calcalist
