Vuclip raises $6 Million in new financing round

Bangalore: Vuclip, a mobile video search portal has closed a series B funding round of $6 million. This financing round is led by Jafco Ventures along with the existing investor New Enterprise Associates.

Vuclip's cloud-based, real-time transcoding service delivers more than one million mobile videos every day to mobile users on more than 3,000 mobile handsets in 150 countries around the world, including India, China and the United States. This privately-held company provides service which enables video to play on any phone with a mobile browser and native media player. The company partners with numerous content owners to targeted content to consumers that is monetized through Vuclip's proprietary ad stitching technology. "We've built a service that addresses browser and device fragmentation issues for mobile video so consumers can watch whatever video they want, when they want it, wherever they happen to be," said Nickhil Jakatdar, CEO and Co-Founder of Vuclip. According to Jakatdar, Vuclip's solution gives media companies access to a global audience and allows them to mobilize online video assets, breaking out of the current paradigm where fragmentation and inter-operability issues limit mobile distribution. Based in Silicon Valley, Vuclip has about 40 employees currently working in the company.

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With this round of funding, Nick Sturiale, General Partner at Jafco, will join the company's Board along with Kittu Kolluri, General Partner at NEA. "Vuclip's service makes watching video clips simple, whether the user is on a high-end smart phone in the U.S. or a lower-end feature phone in an emerging market."