Bitmovin Locks In $10.3M ‘A’ Round

Cloud video infrastructure startup Bitmovin said it has landed a $10.3 million series A round led by Atomico.

Bitmovin said the funds will help it accelerate development of video playback technologies for existing and new platforms, including 360-degree video for virtual reality services and apps.

Also joining the A round are a group of Bitmovin angel backers -- David Helgason, founder of Unity; Chris Kaiser, former VP of Engineering at Netflix and YouTube, and Edward Kozel, a former CTO of Cisco Systems and Deutsche Telekom.

Bitmovin, which provides cloud-powered video encoding services and an HTML5 player for desktop, mobile, smart TV and VR platforms, counts OTT customers around the world such as Toolbox, Bouygues Telecom, Nomads, Flimmit, Technicolor, Genflix, Kronehit (online radio).  

Its tech partners include Amazon Web Services, Google Cloud Platform, Microsoft, Irdeto, Wowza Media Systems and ad-tech specialist YuMe.

Its intro-level monthly pricing for cloud encoding ranges from free (capped at 2.5 gigabytes per month with “limited” support, to $29 per month for a “Startup” tier, $59 for its “Business” tier, and $149 for a “Professional” level offering.

Bitmovin also offers a range of “Enterprise” plans that start at $645 per month. The company also has monthly and enterprise plans for its adaptive player based on the number of video views.

Bitmovin, based in Palo Alto, Calif., and Klagenfurt, Austria, is also backed by Dawn Capital, SpeedInvest, and Constantia New Business. It was founded in 2013.