Mobile video startup Vuclip raises $13 million from SingTel Innov8 and existing investors
In a series C round lead by NEA and Jafco, the company had raised $8 million in May last year.
The funds raised will be used to meet global demand particularly in Asia, the Middle East and Latin America, and to improve its media and advertising platform, the company said.
The company claims that it has hit 45 million monthly active unique users and 1.2 billion minutes of video viewing per month. Its also approaching double-digit million dollar revenues.
Vuclip makes it easy to share clips across 5,500 different handset models and up to 80 % file compression. The company counts Associated Press and UTV among its clients. Cadbury Silk and Samsung are some of the advertisers on their platform.
The company has also partnered with operators such as Vodafone and Airtel worldwide for incremental revenue opportunities.
Said Nick Sturiale, General Partner, Jafco Ventures
“Most of the world’s first internet experience is on a cell phone. Vuclip is the fastest growing video service since YouTube, but has much better engagement. The company is poised to be a dominant global media services platform.”
The company has also launched 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.