Amagi raises over $100 mn from General Atlantic, now valued at $1.4 bn
Nov 10, 2022, 18:17 IST
Media technology company Amagi on Thursday announced it has raised over $100 million, including $80 million in primary capital, from global growth equity firm General Atlantic.
The investment brings Amagi's valuation to $1.4 billion, representing an increase from the $1 billion valuation the company reached in March this year with a $95 million investment from Accel, Norwest Venture Partners and Avataar Ventures.
"We have set ourselves the ambitious goal of developing futuristic technology solutions that can help media companies deliver premium personalized content and engaging advertising experiences to their consumers," said Baskar Subramanian, Co-founder and CEO of Amagi.
Amagi crossed the $100 million ARR threshold after a record second quarter (July-September).
It offers a full suite of solutions for the creation, distribution, and monetization of live, linear, and on-demand channels across cable, OTT, and CTV-led free ad-supported streaming TV (FAST) platforms globally.
With this latest funding, the company said it will strengthen support infrastructure for customers and invest in AI-driven personalization, advertising, and live-streaming solutions, particularly in the FAST ecosystem.
"Amagi has demonstrated a consistent ability to anticipate key trends, acting as an early mover in the rise of free ad-supported streaming TV. The company has also championed the use of cloud technology to optimize results for their broadcast and streaming partners globally," said Shantanu Rastogi, Managing Director and Head of India at General Atlantic.
Amagi's clients include ABS-CBN, A+E Networks UK, beIN Sports, Curiosity Stream, Cinedigm, Warner Bros. Discovery, Fox Networks, Fremantle, Gannett, Gusto TV, NBCUniversal, Tastemade, Tegna and Vice Media, among others.
The company has now expanded operations into Germany, South Korea and Australia.
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The investment brings Amagi's valuation to $1.4 billion, representing an increase from the $1 billion valuation the company reached in March this year with a $95 million investment from Accel, Norwest Venture Partners and Avataar Ventures.
"We have set ourselves the ambitious goal of developing futuristic technology solutions that can help media companies deliver premium personalized content and engaging advertising experiences to their consumers," said Baskar Subramanian, Co-founder and CEO of Amagi.
Amagi crossed the $100 million ARR threshold after a record second quarter (July-September).
It offers a full suite of solutions for the creation, distribution, and monetization of live, linear, and on-demand channels across cable, OTT, and CTV-led free ad-supported streaming TV (FAST) platforms globally.
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"Amagi has demonstrated a consistent ability to anticipate key trends, acting as an early mover in the rise of free ad-supported streaming TV. The company has also championed the use of cloud technology to optimize results for their broadcast and streaming partners globally," said Shantanu Rastogi, Managing Director and Head of India at General Atlantic.
Amagi's clients include ABS-CBN, A+E Networks UK, beIN Sports, Curiosity Stream, Cinedigm, Warner Bros. Discovery, Fox Networks, Fremantle, Gannett, Gusto TV, NBCUniversal, Tastemade, Tegna and Vice Media, among others.
The company has now expanded operations into Germany, South Korea and Australia.
SEE ALSO:
Rocket startup Astra lays off 16% of its workforce
Tesla investor, Zerodha founder invest in a smart ‘upliance’ that can chop, stir and cook