Online video management company Qumu has a hefty $10.7 million in new funding this week. Qumu secured the Series C funding from several investors, including Advanced Technology Ventures and SAP Ventures.
Qumu provides video streaming solutions for high-profile companies such as Microsoft, Dell, and eBay. It’s also working with AT&T in a “strategic agreement” to manage the multimedia content within its AT&T Digital Media Solutions for businesses.
Executives say they’ll use the new cash to build the company’s sales and marketing departments and to focus on developing more video-based products.