Amagi raises $109 million in funding, valued at $1.4 billion
Media technology startup Amagi has raised $109 million at a valuation of $1.4 billion. The fresh investment includes $80 million in primary capital from global growth equity firm General Atlantic, and the rest is via secondary stake sales.
In March this year, the startup raised $95 million in a funding round led by Accel, which catapulted it into India’s growing list of unicorns, or startups valued at $1 billion or more. Founded in 2008, Amagi allows broadcasters to virtualise operations on the cloud, helping manage, schedule content and streamline programming remotely through its ‘CloudPort’ offering.
It also provides solutions for personalised insertions of advertisements through its ‘Thunderstorm’ offering. Other solutions include PayTV solutions and analytics for broadcasters. Amagi, a nominee in the Comeback Kid category for the Startup Awards, currently offers three business models for customers - Software-as-a-Service (SaaS), bring your own license and fully managed services.
“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. We believe that General Atlantic, with their longstanding history of helping technology companies build enduring models, is the ideal investment partner for this stage of our growth journey,” said Baskar Subramanian, founder and chief executive of Amagi.
The company also said it had crossed $100 million in annual revenue run rate, after a record July to September quarter. “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, Warner Bros. Discovery, Fox Networks, Fremantle, Gannett, Gusto TV, NBCUniversal, and Vice Media, among others. The company has now expanded into Germany, South Korea, and Australia.
In March this year, the startup raised $95 million in a funding round led by Accel, which catapulted it into India’s growing list of unicorns, or startups valued at $1 billion or more. Founded in 2008, Amagi allows broadcasters to virtualise operations on the cloud, helping manage, schedule content and streamline programming remotely through its ‘CloudPort’ offering.
It also provides solutions for personalised insertions of advertisements through its ‘Thunderstorm’ offering. Other solutions include PayTV solutions and analytics for broadcasters. Amagi, a nominee in the Comeback Kid category for the Startup Awards, currently offers three business models for customers - Software-as-a-Service (SaaS), bring your own license and fully managed services.
“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. We believe that General Atlantic, with their longstanding history of helping technology companies build enduring models, is the ideal investment partner for this stage of our growth journey,” said Baskar Subramanian, founder and chief executive of Amagi.
The company also said it had crossed $100 million in annual revenue run rate, after a record July to September quarter. “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, Warner Bros. Discovery, Fox Networks, Fremantle, Gannett, Gusto TV, NBCUniversal, and Vice Media, among others. The company has now expanded into Germany, South Korea, and Australia.
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