Video startup Ooyala has raised $22 million in a recent round of funding, led by the CID Group and ITOCHU Technology Ventures. Existing investors Sierra Ventures and Rembrandt Venture Partners also participated in the round. This brings Ooyala’s total amount of funding raised to $42 million.

Coming on the scene nearly four years ago, Ooyala emerged during a time when there were few options for video-hosting, broadcasting and monetization. Mark “Rizzn” Hopkins was keen on Ooyala’s presentation of well-rounded features, particularly around its revenue-generating potential and technological considerations. Things like video overlays acted as instances of where these two aspects of Ooyala came together to offer something new.

Based in Shanghai, Ooyala will be using the funding to grow in the now-crowded market. Not only has video continued to become an important part of the web experience, but things like real-time streaming and on-demand programing has catalyzed the convergence of mainstream media and that found through Internet access. The result is a rising interest in advertisement around video content, with companies like Ooyala incorporating past experience to drive the movement forward.

To that end, Ooyala boasts a doubled user base in the past year. Jay Fulcher, President and CEO of Ooyala, shares his excitement for the company’s future, noting its need for support at this particular time;

“Ooyala is at an important inflection point – and only three years after the company was founded. We are extremely well capitalized, we have noteworthy customers doing great things with our platform, we have the support of great partners who have a vested interest in our success, and we are decidedly shaping this category and the way in which online video is being adopted.

“This financing will accelerate our pace of innovation and new customer acquisition as we continue to set the bar for how customers utilize and monetize video. Our publishers all across the globe are intensely focused on making more money with online video – and we are helping them achieve their goals.”

A strong global presence has also aided Ooyala in getting to this point, having brought on former Adobe executive John Treloar to run its Australia/New Zealand operations. Ooyala also has an HQ office in Silicon Valley, and satellite offices in L.A., New York, London, Paris and Guadalajara. This focus on international growth grants Ooyala a unique perspective around the video platform and monetization trends, as the web makes global distribution a great opportunity for publishers.