Bitmovin Banks $25 Million in Funding to Expand Video-Streaming Tool Set

Video infrastructure provider Bitmovin has raised $25 million in Series C financing, led by Swisscom Ventures, the venture arm of the Switzerland telco.

Others participating in the funding round were Climb Ventures and existing investors Atomico, Highland Europe and Constantia New Business. The announcement brings Bitmovin’s total funding to $68 million to date.

Customers of San Francisco-based Bitmovin include Discovery Plus, WarnerMedia, BBC, RTL, FuboTV, DAZN, RedBull Media House, ClassPass, the New York Times and Hong Kong’s PCCW. Overall, the company says, it has more than 400 customers worldwide, including 120 broadcasters and TV networks.

“We see every media company, specifically in the U.S., changing to an OTT [over-the-top video] model,” Bitmovin founder and CEO Stefan Lederer said, adding that the company has seen 120% growth in video impressions during the pandemic.