Qumu, a US-based business video company backed by the corporate venturing unit of Germany-based SAP, was sold to Rimage, a US-based DVD and Blu-Ray publishing systems company, for $52m on Monday.
Rimage paid $39m in cash and $13m in shares to buy the company. Qumu helps corporates distribute and manage video and other content as well as analysing usage.
The company has raised at least $25.7m in venture capital and debt funding. It raised $8.8m in debt and equity last year from investors including SAP Ventures, the corporate venturing unit of the eponymous software company. Other backers of the round were venture debt provider MMV Financial and venture firms Advanced Technology Ventures, Storm Ventures, Garage Technology Ventures, Halo Opportunity Fund, and the Angels Forum.
The company’s series C funding round raised $10.7m in 2008. In 2006 the company also raised $6.2m in equity, debt and convertible securities, according to this SEC filing.
In 2010, it generated $10.3 million in revenue and is on track to achieve approximately $15 million in 2011, according to Qumu’s sale announcement. Qumu said it expected to generate $21m in revenue in 2012.