JW Player said it raised $100 million in Series E Funding from LLR Partners.
The investment follows 200% growth in video streaming last year and an increase in live streaming delivery of over 400%.
The funds will be used to accelerate product innovation and expand its global footprint across sales, marketing and channel partnerships.
The finding follows JW Players acquisition of Vualto, a provider of live and on-demand video streaming and digital rights management.
“Video has entered into a golden age, and we now live in the Digital Video Economy. By combining our easy-to-use video platform technology with our unique consumption and contextual data insights, JW Player has a distinct advantage in helping customers grow their audiences, create world-class video experiences on any screen, and most importantly, generate more revenue,” said Dave Otten, CEO and co-founder of JW Player.
“As we enter this next phase, we are thrilled to partner with LLR. LLR’s team brings decades of unmatched support and expertise in growing industry-changing software companies and will undoubtedly help us accelerate our success as we pursue this massive market opportunity together,” Otten said.
JW Player has pivoted from an open source video player to a platform enabling customers to independently control, operate and monitor video-driven services.
“JW Player has been at the forefront of digital video innovation ever since founder Jeroen Wijering created YouTube’s original video player in 2008. Today, the company offers the most comprehensive technology, advertising and data analytics platform in the digital video ecosystem,” said David Reuter, partner at LLR Partners. “We look forward to partnering with the JW Player team as they expand their platform and continue to elevate the way brands can host, stream and monetize video.”
