New York Tech Firm Kaltura Said to Hire Goldman for Fundraisingby
Company seeking to raise more than $100 million in U.S.
Will consider initial public offering or private funding
Kaltura Inc., a developer of video content platforms, hired Goldman Sachs Group Inc. to help it raise more than $100 million from either an initial public offering or a private funding round in the U.S., according to a person with knowledge of the matter.
The New York-based company, whose financial backers include Intel Corp.’s investment arm, is planning to raise the funds by the first quarter of 2016, the person said, asking not to be identified because the plans aren’t public. Raz Meirman, a Goldman Sachs spokesman in Israel, declined to comment in an e-mailed response to questions.
Kaltura raised $47 million in a funding round last year led by SAP’s venture capital arm that valued the company at $250 million, according to IVC Research Center. Other existing investors include Nokia Growth Partners and Point 406 Ventures.
The company employs about 430 workers across New York, San Francisco, London, Sao Paulo and in its research and development center in Ramat Gan, Israel. Kaltura, founded by four Israelis including chief executive officer Ron Yekutiel, developed a platform that manages content such as online advertisements and in-house training. Clients include Royal Philips NV, Wal-Mart Stores Inc. and AstraZeneca Plc.