Ooyala is tackling the world’s largest market for online video, the Asia-Pacifc. Ooyala provides tools that help companies stream videos online, as well as monetize them. It just closed the $35 million round it announced earlier this summer, with two of its big investors in Singapore.

EDBI, an investment firm in Singapore, joined Australia telecommunications firm Telstra in the round. Telstra led the Series E, which sources close to the company tell me also includes Media Corporation, a group of media organizations in Singapore. Ooyala CEO Jay Fulcher wouldn’t confirm Media Corp. as an investor.

It makes sense, though, because Ooyala is establishing its Asian hub in Singapore to try to “fuel its momentum throughout Asia,” while Singapore is quickly trying to work its way up the ranks in online video.

According to ComScore — which expanded its coverage in Asia this summer, introducing its Comscore Video Metrix for the first time in Taiwan, Indonesia, and the Philippines — 1.2 billion people watched online videos during the month of June, most of which were in the Asia-Pacific Region. China led the world in June, with 266 million people watching online videos, versus 180 million people in the US. Only 2.8 million watched that same month in Singapore.

Sources tell me that executives at Ooyala — which launched in 2007 by Bismarck and Balsasar Lepe, as well as Sean Knapp who all left Google to start this video publishing platform — have been talking about attaining profitability since months after its inception. But the company, which has large media customers such as Bloomberg, ESPN, and Pac-12 Enterprises, continues to re-invest in the company, eying global dominance and seemingly setting up for a potential IPO.

I had the opportunity to sit down with CEO Jay Fulcher to talk about the latest round and  timeline for an IPO. I asked about the potential for filing in 2013. Hear what he has to say in the video above.