Vuclip achieves $13m in Series D funding led by SingTel Innov8, Jafco Ventures and NEA
By Parvina Purkayastha - Fri Nov 16, 4:51 pm
- 1012 views
World's largest Independent Mobile Video And Media Company Reaches 45 million monthly active users
World’s largest independent mobile video and media company, Vuclip has raised $13 million in Series D funding led by SingTel Innov8, a new strategic investor, and existing investors NEA and Jafco Ventures. The funds raised will be used to meet tremendous global demand particularly in Asia, the Middle East and Latin America, as well as to further innovation around Vuclip’s media and advertising platform.
The rapid growth of Vuclip in the past year includes achievements such as hitting 45 million monthly active unique users and 1.2 billion minutes of video viewing per month, as well as approaching a double-digit million-dollar revenue run-rate. Additionally, the company has introduced an iOS app as part of a complementary app and browser strategy to address the needs of all mobile video viewers no matter the device or quality of network they are on.
“We believe that growth in mobile video is being driven by three major factors: the spread of low cost smart phones, rapid growth of mobile-only internet users and demand for compelling content. We see this happening in emerging markets in ways that are different compared to developed markets,” said Nickhil Jakatdar, CEO, Vuclip. “This is very much informing our vision and strategy for reaching consumers, carriers, content providers and advertisers worldwide as a media platform and we believe we are on a unique, global path to success.”
The Benefits of Vuclip
With Vuclip, 45 million monthly active users worldwide enjoy a consistent mobile video experience regardless of the model of device they own. Vuclip has pioneered ease of sharing across more than 5,500 different models of handsets and tablets, as well as compression of files by up to 80 percent, reducing the consumption of data in the newly capped mobile data plans.
“Innov8 is focused on identifying the next generation of leaders in enterprise, network and digital media,” said Jeff Karras, Managing Director, SingTel Innov8. “Vuclip has built an impressive user base, monetization strategy, and management team and is truly emerging as a leading mobile media company.”
Via Vuclip, global and regional content providers such as AP (Associated Press) and UTV benefit from being able to monetize quality mobile content while reaching as many viewers as possible.
“Most of the world’s first internet experience is on a cell phone,” said Nick Sturiale, General Partner, Jafco Ventures. “Vuclip is the fastest growing video service since YouTube, but has much better engagement. The company is poised to be a dominant global media services platform.”
Also, global brands such as Cadbury Silk and Samsung are able to branch out successfully into the burgeoning mobile video advertising space, gaining exposure to consumers who are highly engaged and within the right, tailored context for the brand.
Additionally, Vuclip partners with operators such as Vodafone and Airtel worldwide, offering incremental revenue opportunities, reduced tolls on data load in the face of growing mobile media consumption and custom products.
“Today consumers have nearly unlimited options in how they spend time on their mobile devices, and Vuclip is clearly delivering content that consumers want to engage with,” said Rohini Chakravarthy, Partner, NEA. “Sixty-five percent of videos consumed via Vuclip are shared–this is an extraordinary rate of social sharing, and it’s driving tremendous growth in the company.”
- 1012 views