Video site ViKi Closes $20 Million Series B round from SK Telecom, Andreesen Horowitz, and Others

Singapore-based video site ViKi announced today that it has raised a Series B funding round of $20 million from a range of investors including SK Planet, a subsidiary of SK Telecom, BBC Worldwide, Greylock Partners, Andreesen Horowitz, Charles River Ventures, Neoteny Labs, as well as others. Previously Viki raised $4.3 million in Series A in December 2010 from similar investors as well as individuals.

The video site is popular among fans of Asian, Spanish, and Middle Eastern TV series, especially those of anime and Korean drama. Members can submit subtitles and corrections to the benefit of others who wish to watch and understand their favorite foreign films. Submissions are subject to a Creative Commons licensing agreement.

At the moment, Viki's community of translators has translated licensed TV series and movies into more than 150 languages (including Klingon) in less than a year. It's closing in on 10 million unique visitors and quadrupled its total visits in October compared to last year.

Viki CEO and co-founder Razmig Hovaghimian said in a statement, "We’re very excited to have SK Planet and BBC Worldwide join our team of investors. In less than a year since our public launch, our viewership has grown exponentially, with shows translated into more than 150 languages. This investment will enable us to continue this rapid growth and expand our service onto multiple platforms."

Greg Park, executive vice president of SK Planet will join Joichi Ito of Neoteny Labs who is also chairman of Creative Commons, as one of two outside directors on the company's board.

Viki currently has 30 popular prime-time TV series from the BBC including Fawlty Towers, Oliver Twist, Gavin & Stacey for its Southeast Asian viewers. Viki also has signed a deal with NBC Universal and A+E Networks International.

With an iOS app already available, the company recently partnered with Samsung to develop an Android app for Samsung tablets, expected to be available later this year.