Bitmovin, a leading provider of video infrastructure for global digital media companies, announced it has raised $25 million in Series C financing. The company will leverage this investment to drive the continued expansion of its product innovation and technology leadership in the streaming space. Bitmovin’s Series C round was led by Swisscom Ventures with participation from Climb Ventures, and existing investors: Atomico, Highland Europe and Constantia New Business. The announcement brings Bitmovin’s total funding to $68 million.
The global market for video streaming surpassed $100 billion in 2020 and is expected to grow past $250 billion by 2025 as viewer consumption habits increasingly change to favor streaming. Within the past year, more companies than ever are relying on streaming rather than linear channels to reach consumers, enabling them to leverage their content libraries and introduce new streaming services to meet viewer demands. As a result of this significant shift, Bitmovin saw a 174% growth in the number of broadcasters opting for OTT in 2020.
Bitmovin powers the world's largest OTT online video providers, including discovery+, fuboTV, DAZN, BBC, RTL, RedBull Media House, Globo, ClassPass, The New York Times, and many more, with video developer tools that enable them to build leading online streaming experience. The company, which was recently honored with a Technology & Engineering Emmy® Award by the National Academy of Television Arts and Sciences (NATAS), has a long history of innovation that began with the co-creation of the MPEG-DASH video streaming standard by Bitmovin’s founders in 2012, which is today used by most streaming services.
View full Press Resealease