Media technology

Amagi Raises $100M to Power Next-Gen Media Technology Platform | Media investment | Business | New

2022 saw Amagi, the cloud-based SaaS broadcast and TV streaming technology provider, expand into new territories, improve its core platform and see its revenue skyrocket and the company closes the year with an investment of more than $100 million from global growth capital firm General Atlantic.
The investment includes $80 million in primary capital and brings Amagi’s valuation to $1.4 billion, an increase from its $1 billion unicorn valuation achieved seven months ago with an investment of $95 million from Accel, Norwest Venture Partners and Avataar Ventures. Since then, Amagi has continued to grow and crossed the $100 million annual recurring revenue (ARR) threshold after a record second quarter (July-September). The three venture capitalists remain Amagi’s investors along with Premji Invest and Nadathur Holdings. General Atlantic the investment is expected to close upon receipt of regulatory approval.

Explaining the reasons for the company’s investment, Shantanu Rastogi, Managing Director and Head of India at General Atlantic, noted that Amagi has demonstrated a consistent ability to anticipate key trends, acting as a forerunner in the rise ad-supported free streaming TV. “The company has also championed the use of cloud technology to optimize results for its broadcast and streaming partners globally,” he said. cloud-based broadcast.

With this latest funding, Amagi plans to strengthen its customer support infrastructure and invest in AI-powered personalization, advertising and live streaming solutions, particularly in the FAST ecosystem. He added that with the global media and entertainment industry expected to reach nearly $3 trillion in revenue by 2026, Amagi believes there are significant opportunities for growth through organic and inorganic businesses. .

“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,” added Baskar Subramanian, Co-Founder and CEO. from Amagi. “We believe General Atlantic, with its long history of helping technology companies build sustainable models, is the ideal investment partner for this stage of our growth journey. We are delighted to have their support and look forward to leveraging their expertise.

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