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Bitmovin Raises $25 Million to Drive New Innovations in the Video Streaming Industry
SAN FRANCISCO, April 20, 2021 - Bitmovin, a leading provider of video infrastructure for global digital media companies, today 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 online video streaming market has grown exponentially—at least 10x—since we started Bitmovin in 2013,” said Stefan Lederer, CEO and founder at Bitmovin. “More consumers than ever prefer to watch content on any device and at any time rather than in linear programming. This trend is further fuelled by advances in connectivity and consumer electronics, along with innovation in streaming technologies. We’re proud to take a leading role in helping transform the streaming industry by enabling new services around the globe.”