Mobile video service Vuclip has announced that it has raised $13 million in series D funding. The investment was led by SingTel Innov8, as well as previous investors and NEA and Jafco Ventures. The funding will be used to serve high demand in Asia, the Middle East, and Latin America.
The company claims to have 14 million monthly unique users and delivers over 20 million videos every day. But for many of you, especially readers in the US, it’s possible that you may not yet have heard of a Vuclip – that’s because its target audience is primarily users in emerging markets where smartphone penetration is still low.
Vuclip offers browser-based video delivery thanks to his HTML5 and video compression technology, which allows users to enjoy video without the need for huge data transfers. NEA partner Rohini Chakravarthy noted in the announcement:
Today consumers have nearly unlimited options in how they spend time on their mobile devices, and Vuclip is clearly delivering content that consumers want to engage with. […] Sixty-five percent of videos consumed via Vuclip are shared—this is an extraordinary rate of social sharing, and it’s driving tremendous growth in the company.”
And while the service’s main focus is serving dumb phones via the browser, it also has iOS and Android apps as well. So I expect that as smartphone penetration improves globally, Vuclip can try to retain users who are familiar with its brand as they transition to higher powered handsets.
Vuclip is based in California, with offices in India, Singapore, the UAE, and China.