Vuclip secures $13 Million in Series D Funding
Date: Friday , November 30, 2012
Vuclip, an independent mobile video and media company, has raised $13 million in Series D funding led by SingTel Innov8, a new investor, and existing investors NEA and Jafco Ventures. The total funding raised stand at $27 million till date. 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. Vuclip is headquartered in Milpitas, California with offices in New Delhi, Mumbai, Singapore, Dubai, Shenzhen and Beijing.
The growth of Vuclip, founded in 2008 by Nickhil Jakatar and Zhigang Chen, 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 mobile video viewers.
"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," says Nickhil Jakatdar, CEO, Vuclip. The company has eased 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.
Additionally, Vuclip partners with operators such as Vodafone and Airtel worldwide, offering revenue opportunities, reduced tolls on data load in the face of growing mobile media consumption and custom products.