Ooyala to use US$35 million funding to fuel international expansion

Online video specialist Ooyala has secured US$35 million (€28 million) of funding from Australian telco Telstra.

The company, which operates web video platforms for media companies including Bloomberg TV, ESPN and Miramax, said it would use the money to “aggressively standardise digital video experiences” provided by TV companies on its Ooyala video streaming, monetisation and discovery platform. It also plans to add scale to its international operations outside the US.

“The lines between online video and TV are blurring.  Service operators everywhere are redefining their offerings for digital, multi-screen consumption. Ooyala has been the driving force the past few years, innovating and helping broadcasters and operators transition their business models to not only maintain but improve the economics of traditional television,” said Jay Fulcher, chief executive officer of Ooyala.