Israeli startup Hola has closed a $17 million Series C round of financing to accelerate its video delivery product. Iris Capital led the round, joined by Hola’s existing investors Li Ka-shing’s Horizon Ventures, DFJ, and others. The company has raised $30 million to date. The latest funding will enable Hola to cut video publishers’ costs for delivering video by 90%, while increasing reliability and speed.
Hola CEO Ofer Vilenski said, “Making the Internet faster has always been our passion. We’ve taken everything we’ve learned from building and managing a P2P network with our 52 million consumer users and built a P2P CDN network that pools server resources to create new cost efficiencies and capabilities that provide video publishers unmatched cost savings with increased quality.”