LongTail Video, a self-serve video solutions platform, announced today that it has completed a $5 million Series B funding round led by Greycroft Partners and included participation from Cue Ball Capital. The financing is LongTail’s first institutional round and the company will use the funding to develop new products and to ramp up its sales and marketing. As well as offering video publishing services, LongTail enables publishers to monetise their content via its own ‘Adsolution’, which plugs in to a variety of external demand sources from video ad networks and exchanges including SpotXchange, Adap.tv and YuMe.
LongTail Video has – as the name suggests – worked with publishers of all sizes by providing simple and affordable video solutions. The company says that this strategy has enabled it to establish ‘one of the largest global footprints in online video’, delivering over three billion streams across over two million sites each month.
LongTail Video’s most well-known product is the ubiquitous ‘JW Player’, which they say is used from everyone from Fortune 500 companies right through to bloggers. JW Player users are also offered a range of ancillary services including ad delivery, video management, transcoding, streaming, and hosting.
The company has been profitable since 2010 and is relatively unique in the video space in that it was initally bootstrapped, which Ian Sigalow of Greycroft Partners said was one of the things that attracted them to the business. He said, “LongTail Video has established a fantastic track record of building great products, including the JW Player, that are used by millions of publishers today to deliver video to mobile devices and desktop browsers. What is most impressive is they have accomplished all of this organically, with very little capital invested to date.”