Amagi, a New York-based cloud-based provider of a SaaS technology platform for broadcast and connected TV, raised $95M in funding at a valuation of over $1 billion.
The round was led by Accel with participation from Norwest Venture Partners and Avataar Ventures.
The company intends to use the funds to accelerate business expansion, both in terms of international presence, as well as in terms of growth of its product portfolio in the current media and entertainment (M&E) market.
Led by CEO Baskar Subramanian, Amagi is a media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. The company enables content owners to launch, distribute and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. It also offers 24×7 cloud managed services bringing advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 650+ content brands, 800+ playout chains and over 2000 channel deliveries on its platform in over 40 countries.
The company, which has a presence in New York, Los Angeles, Toronto, London, Paris, Singapore, broadcast operations in New Delhi, and an innovation center in Bangalore, plans to increase sales and marketing by fivefold across the globe. Amagi will also explore allied and adjunct opportunities in the cloud and video market to deliver greater impact across the value chain, evaluating the mergers and acquisitions (M&A) opportunities that can contribute to revenue growth or add technology capabilities to product lines.
FinSMEs
17/03/2022