It is one of the biggest rounds of financing for any start-up founded in Austria up until now. Bitmovin was established in 2013 and has positioned itself as one of the world’s recognized players in the video streaming market since then. In the meantime, the start-up has offices in San Francisco, the Netherlands, Austria, Hong Kong, Sao Paulo, New York, Seattle and Chicago.
The main investor in this round of financing is Highland Europe (which also invested in WeTransfer, Wooga and Outfittery amongst others). The existing investors of Atomico, Constantia New Business, Dawn Capital and YCombinator also took part in the financing. “Bitmovin has unprecedented market potential due to the fact that video streaming is coming close to a turning point and will become the dominant format for consuming sports, news, films and theatre”, says Fergal Mullen, partner for the lead investor Highland Europe.