Qumu raises $10.7M in Series C funding

Qumu Inc. has completed a $10.7 million round of Series C funding led by Advanced Technology Ventures and joined by SAP Ventures -- a division of SAP AG -- Storm Ventures, Garage Technology Ventures, Halo Opportunity Fund and the Angels Forum.

The Emeryville company, which makes software for streaming video and video content management, said Monday it will use the funds to speed up product development and expand marketing. The company has raised $18 million to date.

Qumu entered into a strategic partnership with AT&T Inc. (NYSE: T) in which its technology will be used as part of the telecommunication giant's Digital Media Solutions portfolio, AT&T announced in June.

Content Continues Below

AT&T will integrate software from Qumu and two other software companies -- ExtendMedia Corp., of Newton, Mass., and Dayton, Ohio-based Stratacache -- with its own technology to offer network software to encode, deliver and manage video and multimedia files.

Qumu changed its name from Media Publisher in February. The company makes software that manages webcasting and video content management.

Qumu's customers include AT&T, Abbott Laboratories (NYSE: ABT), Capital One (NYSE: COF), Citigroup Inc. (NYSE: C), Dell Inc. (NASDAQ: DELL) and eBay Inc. (NASDAQ: EBAY).