Business Venture

Viola-backed Applicaster’s Video Platform Gets New Boost From $11M Series D

Viola Growth is putting more money into Applicaster, a technology company that simplifies the creation, delivery and management of over-the-top video applications, the company said Thursday.

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The $11 million Series D funding round, which comes one year after the Viola-led $20 million Series C round, included participation from existing investors 83North, Pitango, Saban Ventures, Planven Investments and La Maison. The latest investment gives Applicaster total funds raised of $67 million since its inception in 2011, the company said in a written statement.

“There has been a sea change in how we consume media, and in the past few months companies have looked to adapt direct-to-consumer app strategies to support this competitive OTT market,” Eran Westman, partner at Viola Growth, said in a written statement. “Applicaster is uniquely positioned to meet this historic demand by providing agile and flexible solutions for its clients. We believe the category will continue to grow as will Applicaster, with its flexible and robust platform.”

New York-based Applicaster also has offices in San Jose, Miami, London and Tel Aviv.

Applicaster’s SaaS app management platform, Zapp, simplifies the way media companies build, manage and distribute content, letting them reduce costs and shrink the time it takes to get that content to market. It works with media companies and premium content providers, including DirecTV, Viacom, ProSieben and Fox.

The global video streaming market is expected to be valued at $842.93 billion by 2027, according to Fortune Business Insights. Its report also found that the U.S. has more than 200 streaming service providers.

Streaming services reported massive increases in usage as a result of the global pandemic and, as such, Applicaster said it will invest the new funding in research and development, technology and customer growth.

“Mobile and connected TV apps have never been a bigger part of their business model than now,” said Applicaster co-founder and CEO Jonathan Laor, in a written statement. “Applicaster’s speed and flexibility in reaching these audiences are key in adapting strategies to support this burgeoning market.”

Photo: iStock

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