Bitmovin Closes $30 Million in Series B Round

Bitmovin, an online video infrastructure software company, acquired $30 million in Series B funding led by Highland Europe. The round was led by Highland Europe, with participation from existing investors Atomico, Constantia New Business, Dawn Capital, and YCombinator.  Bitmovin is an alumnus of startup incubator YCombinator and its Silicon investors include former Cisco CTO Ed Kozel, as well as the former VP of engineering of Netflix, the founder of Gaikai, the founder of Drupal, and the founder of Unity3D. This latest round brings the total investment in Bitmovin to $43 million.

Bitmovin’s video compression, playback, and analytics APIs strive to stream video in higher quality with less bandwidth, while preventing buffering and long start-up delays.  The company’s customers include Sling, Periscope, The New York Times, ProSiebenSat.1, Red Bull Media House, FuboTV, RTL and iflix.

Bitmovin plans to use the funds to scale its product R&D, field engineering, and sales teams worldwide and to expand its customer base of TV streaming providers, internet companies, and social media companies.