The Hola CDN, a Tel Aviv, Israel-based video distribution network for publishers, closed a $17M Series C round of funding.
The round, a portion of which consisted of stocks purchased directly from employees, was led by Iris Capital with participation from existing investors and angels.
The company, which has raised $30m to date, intends to use the funds to grow its engineering and product teams with the aim of increasing talent from 75 to 200 employees over the next 12 months.
Founded by serial entrepreneurs Derry Shribman and Ofer Vilenski, Hola CDN operates a global network of dedicated servers running P2P technology coupled with code running on the viewer’s side that utilizes that network. Hola CDN streams video to the viewers from multiple sources (servers) in parallel, at high utilization levels, and leverages servers in lower-cost regions.
The Hola CDN is already in use with 12 video publishers that are participating in a pilot program and will achieve general availability in the fourth quarter of 2015.