Amagi raises $100 million from Accel, Avataar Ventures and others

© Arun Sreenivasan
Amagi raises $100 million from Accel, Avataar Ventures and others

Amagi, a cloud SaaS expertise supplier for broadcast and streaming tv, has raised over $100 million from buyers reminiscent of Accel, Avataar Ventures, Norwest Enterprise Companions and present investor Premji Make investments.

As a part of this transaction, the funds have additionally purchased out stakes held by Emerald Media and Mayfield India. Nadathur Holdings continues as an present investor. With this funding, the corporate has raised greater than $150 million up to now.

“Amagi will immensely profit from the collective expertise of Accel, Avataar, Norwest, and Premji Put money into quickly scaling our enterprise and increasing our international footprint,” mentioned co-founder and CEO Baskar Subramanian. “Their deep understanding of B2B SaaS fashions will assist us improve worth for our prospects and companions. This can additional nurture an entrepreneurial spirit in our staff, which is important to constructing and embracing new applied sciences to resolve advanced enterprise challenges.”

Based in 2008 by Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi permits content material homeowners to launch, distribute and monetise stay linear channels on free-ad-supported tv and video providers platforms by way of a collection of options. It additionally supplies 24×7 cloud broadcast and focused promoting options to broadcast TV and streaming TV platforms. Amagi has presence in New York, Los Angeles, Toronto, London, Paris, Singapore, broadcast operations in New Delhi, and an innovation centre in Bengaluru.

“Media corporations are striving laborious to maximise revenues and keep worthwhile amidst shifting client preferences. Amagi precisely gauged the path of the trade transition nearly a decade in the past and efficiently took to market pioneering cloud options to satisfy evolving media necessities. Constructing on the significant scale they have already got, we’re excited to actively assist them, utilizing our Working VC mannequin, to create the following international chief within the media-tech SaaS house,” mentioned Nishant Rao, Founding Associate at Avataar Ventures.

The corporate claims to assist over 500 content material manufacturers, over 800 channels together with playouts and redundancies and total 2,000 channel deliveries on its platform throughout greater than 40 international locations. Its purchasers embody A+E Networks UK, beIN Sports activities, CuriosityStream, Discovery Networks, Fox Networks, Fremantle, Tastemade, Tegna, Vice Media, and Warner Media.

The agency mentioned it has additionally developed deep technical integration with ad-supported platforms reminiscent of The Roku Channel, Samsung TV Plus, Pluto TV, Plex, Redbox, STIRR, VIZIO, Xumo, and different prime 30 video streaming platforms throughout markets like the US, LatAm, Europe, and Asia.

“The worldwide media and leisure trade is poised for unprecedented progress. Amagi’s market-leading cloud-based expertise is enabling content material homeowners – large and small – to achieve wider audiences, ship customized content material, appeal to advertisers, and scale back price of operations,” mentioned Shekhar Kirani, companion, Accel.

Amagi mentioned its revenues have grown by 136% for the fiscal ending March 2021, pushed by a 44% year-on-year progress in new prospects together with manufacturers reminiscent of NBCUniversal, USA Right now, and ABS-CBN.

For the quarter ending June 2021, the corporate noticed an 18 % sequential rise in revenues, a 19 % enhance in prospects and a 27 % rise in advert impressions. The USA accounts for 74 % of its revenues.

Amagi prospects see a mean 40 % financial savings in operational price as in comparison with conventional supply fashions and a few of its prime prospects have witnessed a 5-10x progress in advert impressions, the corporate mentioned in a press release.