JW PLAYER SECURES US$100 MILLION IN SERIES E FUNDING FROM LLR PARTNERS

KUALA LUMPUR, June 25 -- JW Player, the leading video software and data insights platform, announced it has raised US$100 million in Series E funding from LLR Partners. (US$1 = RM4.155)

The latest investment comes on the heels of record video streaming growth and strong profitability during the previous 12 months, according to a statement.

With this financing, JW Player will accelerate product innovation to meet rapidly changing demands of customers in today’s digital video environment, expand its global go-to-market footprint across sales, marketing and channel partnerships and continue to grow and invest in building a world-class team.

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“As we enter this next phase, we are thrilled to partner with LLR. LLR’s team brings decades of unmatched support and expertise in growing industry-changing software companies and will undoubtedly, help us accelerate our success as we pursue this massive market opportunity together,” said JW Player chief executive officer and co-founder, Dave Otten.

Meanwhile, Partner at LLR Partners, David Reuter said: “We look forward to partnering with the JW Player team as they expand their platform and continue to elevate the way brands can host, stream and monetise video.”

The funding round follows JW Player’s recent acquisition of VUALTO, a leading provider of live and on-demand video streaming and Digital Rights Management (DRM) solutions, that deepened the company’s offering to global broadcasters.

In the days following the acquisition, JW Player has seen a material uptick and influx of sales and pipeline, especially in the LATAM and APAC regions.

Started as a hugely-popular open source video player, JW Player’s API-driven video platform now empowers hundreds of thousands of customers to independently control and operate their mobile, OTT and Web video applications at global scale.

More details at http://www.jwplayer.com.

-- BERNAMA