Amagi Raises Over $100M In Latest Funding Round
Amagi, an India and US-based global media SaaS technology company, has raised over $100 million in funding from Accel Partners, Norwest Venture Partners, Avataar Ventures, and Premji Invest.
The funding round also saw the exit of its earlier investors, Emerald Media (an investment platform backed by KKR) and Mayfield Fund.
Founded in 2008 by Srinivasan KA and Baskar Subramanian, Amagi is a global leader in cloud-based SaaS technology for broadcast and connected TV. Providing cloud-based broadcast and advertising technology solutions, the company enables content owners to launch, distribute, and monetize live linear channels on connected TV and SVOD platforms.
Speaking on the development, Baskar Subramanian, Co-founder and CEO of Amagi, said,
“Amagi will immensely benefit from the collective experience of Accel, Avataar, Norwest, and Premji Invest in rapidly scaling our business and expanding our global footprint.”
Amagi originally started in India, providing targeted TV advertising solutions, but later the company pivoted to lead cloud adoption and evangelised cloud technologies for broadcast.
Amagi, with a presence in Los Angeles, New York, London, Paris, Toronto, and Singapore, broadcast operations in New Delhi, and an innovation centre in Bengaluru, supports over 500 content brands, 800 playout chains, and over 2,000 channel deliveries on its platform in over 40 countries.
On the revenue side, the company’s revenue has grown by 136% in the fiscal ending March 21. The company noted that the momentum continues, driven by 44% annual growth in new customers, including USA Today, ABS-CBN and NBCUniversal.
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