Amagi has already reached a valuation of more than $1 billion, making it a unicorn and one of the most valuable media tech businesses in the world. Amagi, a cloud-based media SaaS technology business, today announced a $95 million investment round headed by Accel and including current investors Norwest Venture Partners and Avataar Ventures.
Amagi has now been valued at more than $1 billion, making it a unicorn and one of the most valuable media tech businesses in the world.
Media firms may use Amagi’s technology to develop, distribute, and monetise streaming content. Consumers throughout the world are binge-watching movies and TV series, and the pandemic is adding to the demand for its services.
“This is a crucial juncture for our business as we look to hit a hyper growth trajectory by creating a winning combination of goals, processes, team structures and more,” stated Baskar Subramanian, CEO & Co-founder, Amagi.
“Our investors have a known history of crafting the success stories of companies with the promise of potential. We look forward to leveraging their astute understanding of the B2B SaaS landscape to successfully navigate the market intricacies and position ourselves for sustained success in the coming years.”
NBCUniversal, CBS, USA Today, and Japan’s Rakuten Group Inc. are among the startup’s clients.
Amagi was formed in 2009 by Subramanian and two of his engineering school classmates, and its first offering was geo-targeted TV commercials for Indian broadcasters. The founders started building a cloud-based ad platform in 2015, counting on two trends: consumers moving to streaming services and broadcasters adopting the company’s pay-as-you-go software model.
“As the most preferred media SaaS company in the world, Amagi is leading the booming M&E industry to greater heights of technological innovation and strategic growth,” said Shekhar Kirani, Partner, Accel.
“Amagi’s impressive momentum is a direct result of its cutting-edge products, superior customer experience and talented leadership. We are thrilled to help fuel the company’s long-term success.”
The platform of Amagi connects content producers with distribution platforms. In 2021, the company’s customer base grew by 59 percent, and it now spans 40 nations. Over half a million content brands and over 2,000 delivery channels are supported by the organisation.