Amagi secures over $100 million at a valuation of $1.4 billion
- ByStartupStory | November 11, 2022
Amagi, a startup in media technology, has raised more than $100 million (about Rs 800 crore) from international private equity firm General Atlantic, raising its valuation to $1.4 billion. The company stated that out of the $100 million raised, $80 million (or around Rs 640 crore) was raised through primary market transactions. It was exclusively revealed in August that General Atlantic and TPG are in discussions to invest $100 million in Amagi, giving the business a $1.4 billion valuation. The Bengaluru-based company intends to use the additional capital to improve customer service infrastructure and make investments in live streaming, personalisation, and advertising technologies powered by artificial intelligence.
Baskar Subramanian, Srinivasan K.A., and Srividhya Srinivasan launched Amagi in 2008. It aids in the production, distribution, and monetization of streamed content over cable, satellite, and over-the-top media services by media firms.
According to Subramanian, “We have given ourselves the goal of developing cutting-edge technology solutions that can assist media firms in providing customers with premium tailored content and engaging advertising experiences.” “Amagi has shown the capacity to foresee important trends by leading the way in the emergence of free, ad-supported streaming TV. In order to maximise outcomes for their broadcast and streaming partners globally, the firm has also promoted the usage of cloud technologies, according to Shantanu Rastogi, managing director and head of India at General Atlantic. After raising $95 million in a capital round led by Accel and including Norwest Venture Partners and Avataar Ventures, Amagi became a unicorn in March of this year. The platform of Amagi links distributors and content owners. Media behemoths including NBCUniversal, CBS, USA Today, and Japan’s Rakuten Group are among the startup’s clients.
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