Vuclip receives $13 million in Series D funding

SingTel Innov8 joins the list of Vuclip's investors in this round of funding along with existing investors, NEA and Jafco Ventures.

California-based mobile video and media company Vuclip has been boosted with an investment of $13 million in Series D funding led by SingTel Innov8, a new strategic investor in the company along with existing investors - NEA and Jafco Ventures.

Vuclip will use the raised funds to meet its increasing demand, particularly in Asia, Middle East and Latin America as well as to further innovation around its media and advertising platform.

The company has recently touched 45 million monthly active unique users and 1.2 billion minutes of video viewing per month. It further claims that Vuclip is fast approaching a double-digit million-dollar revenue run-rate. Vuclip has also 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.

Commenting on the development,
Nickhil Jakatdar
, chief executive officer, Vuclip says, "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 and demand for compelling content. We see this happening in emerging markets in ways that are different compared to developed markets,"

"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," he adds.

Associated Press and UTV are among the content providers that work with Vuclip to monetise their mobile content while brands such Cadbury Silk, Samsung, Vodafone and Airtel use the company's platform for its mobile media communication needs.

"Innov8 is focused on identifying the next generation of leaders in enterprise, network and digital media. Vuclip has built an impressive user base, monetisation strategy, and management team and is truly emerging as a leading mobile media company,"

says Jeff Karras, managing director, SingTel Innov8.

"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. 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," says Rohini Chakravarthy, partner, NEA.