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 the demand from Asia, the Middle East and Latin America, as well as to further innovation around Vuclip’s media and advertising platform.
The company has grown from strength to strength in the past year. Its active unique users touched 45 million, while video viewing increased to 1.2 billion minutes. It also approached a double-digit million-dollar revenue run-rate.
Additionally, the company has introduced an iOS application as part of a complementary application and browser strategy to address the needs of all its viewers.
Commenting on the growth, 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-only internet users and demand for compelling content. We see this happening in emerging markets in ways that are different compared to developed markets.”
