JW Player, a NYC-based online video platform, received $20m in Series C funding.
The round was led by Greycroft Growth and Greenspring Associates with participation from Cue Ball Capital and e.ventures.
The company intends to use the funds to expand its sales, marketing, product, and engineering initiatives, and add to improve its software-as-a-service platform.
Founded as an open-source project by Dave Otten, CEO, and also led by Chris Mahl, President, JW Player is today live on more than 2 million sites with 9 billion video streams to 900 million monthly unique viewers across all devices — phones, tablets, and desktops. The company now plans to create ab open video ecosystem to enable publishers, advertisers, agencies, and video ad networks to access to actionable insights for their overall business objectives.
Today, customers span the globe across 193 countries and range from Fortune 500 companies to individual bloggers.