US-based mobile devices manufacturer Motorola Mobility invested an undisclosed amount in US-based online video platform Ooyala on Tuesday through its corporate venturing unit, Motorola Mobility Ventures.
Motorola Mobility was originally de-merged from telecommunications multinational Motorola in January, but last month Google agreed to acquire the company for $12.5bn, subject to regulatory approval.
Ooyala picked up $22m of series D funding from the Japan-based conglomerate Itochu, private equity firm CID, and venture capital firms Rembrandt Venture Partners and Sierra Ventures. Sierra and Rembrandt previously financed Ooyala’s series C round, which raised $10m in October 2009, while Sierra also contributed to Ooyala’s series A round in 2008.
Founded in 2007, Ooyala provides online video management, analysis and monetisation services for client businesses and currently has more than 1,000 customers.
Wallace Pai, vice president of corporate development and ventures for Motorola Mobility, said: "Motorola Mobility continues to drive toward delivering converged, multi-screen experiences. We share a common vision with Ooyala, and look forward to building on the synergies between our two companies."