Ooyala Raises $10 Million From Rembrandt and Sierra
Ooyala is a video start-up company that has raised $10 million in Series C funding. The funding will be used for aggressive growth, partnerships, and international expansion. Investors in the company include Rembrandt Venture Partners and Sierra Ventures. Ooyala created a platform called Backlot which is used for publishing and monetizing videos. Some of Ooyala’s customers include Warner Brothers and Electronic arts.
Ooyala was founded by three former employees at Google in 2007. So far the company has raised $20 million in funding. This past August, the company hired Jay Fulcher as the CEO. “We will probably be doubling, possibly even tripling our operation (from over 60 staff) over the next 12 months,” stated Fulcher in an interview with paidContent.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry