Ooyala, Inc., the Mountain View, Calif.-based a provider of video platform applications and services, announced that it has raised more than $22 million in a round of financing from new and existing investors. The round was led by The CID Group and ITOCHU Technology Ventures; current Ooyala investors Sierra Ventures and Rembrandt Venture Partners were also included. Ooyala reports that the round was over-subscribed and expects a second closing to occur within 60 days to account for the interest of additional investors.
Ooyala further reported a successful 2010, with record revenue and more than 300% in year-over-year top line growth. In the future, the company plans to expand into new territories around the world.