Israel-based video distribution network Hola closed a $17m series C round yesterday led by Iris Capital, a venture capital firm backed by telecoms company Orange and advertising firm Publicis.
Hola’s existing investors and private individuals also joined the round, though Hola has not disclosed details about previous rounds or current shareholders.
Hola operates a content distribution network aimed at video publishers, which enables producers to stream their content to users from multiple sources. The technology enables Hola to use servers in cheaper markets and pass on those savings to clients.
The company will use the money to hire more engineers and product developers, growing the teams from 75 to 200 staff within the next year, as it prepares for a general launch in the fourth quarter of 2015.