Kaltura said it has secured $50 million in “pre-IPO” funding from Goldman Sachs’ Private Captial Investing Group as the over-the-top video specialist looks to expand its global footprint.
Kaltura, which has raised about $110 million and was founded in 2006, also announced that Holger Staude, a VP in Goldman Sachs’ Private Capital Investing group, will be joining Kaltura’s board of directors. Goldman Sachs’s PCI unit is focused on providing “junior capital” to growth and middle-market companies throughout North America, with investments of about $20 million to $150 million per transaction.
Kaltura, which provides a mix of OTT publishing and advertising platforms, counts customers such as Viacom, Vodafone, HBO, ABC, Turner, Warner Bros., and Paramount. It also provides enterprise video systems for partners that include Intel, SAP, Nestle, and Target.
“Video is booming,” Kaltura chairman and CEO Ron Yekutiel, said in a statement. “It is the favorite data type for communication, collaboration, teaching & learning, marketing, and entertainment….We are excited to be working with Goldman Sachs as we continue our journey to videofy companies and organizations all around the world."
UPDATE: Kaltura hasn't announced when it will IPO, but it's clearly in the plan.
“The company appreciates the support and recognition by Goldman Sachs. We plan to leverage this new capital to expand our global reach, and continue to grow our business in the media, telco, enterprise and education markets. This will strengthen our position as the leading video technology company, delivering everything video to the market. Kaltura has strong SAAS metrics and given a more favorable market environment, is well positioned for a successful lPO," company CFO Dr. Naama Halevi said.