Cooliris raises $9.6 Million in third round of funding
Date: Wednesday , March 02, 2011
Cooliris, a visual browsing application developer, raises $9.6 Million from third round of funding from existing investors including Kleiner Perkins Caufield and Byers, Deutsche Telekom’s T-Venture, DAG Ventures and The Westly Group. The company has now raised total of $28.6 Million and employs 45 people with offices in Palo Alto, Tokyo and Singapore.
The funding will be used to build scale and increase its presence on Mobile and Web and monetize with a superior economics with the Immersive 3D Ads that it just launched with one of its partners inMobi. Palo Alto based Cooliris makes a multimedia browser plug in for sharing photos and video content. It counts over 35 million downloads of its 3D Wall application, and releases an update to LiveShare, which lets users create and share group photo streams across the Web and mobile.
Cooliris has seen demand for better user experience increasing significantly as Apple demonstrates so effectively a clear need to the market. “With the proliferation of new devices like tablets, the need for new communication services around media sharing (LiveShare by Cooliris) and monetizing these services with a rich immersive brand advertising experience is very clear. We also have a very exciting and new product getting released on iPad which will demonstrate to the world what we can do in the domain of commerce,” says Soujanya Bhumkar, CEO, Cooliris. He thinks this ‘hyperpersonalized’ approach fits with how people think about sharing, with respect to the four aspects of space, time, interests and relationships. LiveShare gives users the option of sharing with whoever is appropriate for any context.
With Cooliris having relationship with Google, LiveShare might get incorporated into Android’s Gallery. But with nearly $29 million raised, expectations for LiveShare will be high. Cooliris has been known for having a great team which executes by delivering immersive experiences across platforms and monetizing them.