July 5, 2022

Main media software-as-a-service (SaaS) corporate Amagi on Wednesday stated it has raised $95 million adopted by way of a 108 in line with cent enlargement (on-year) in revenues — changing into a brand new unicorn (with a valuation of greater than $1 billion).

The spherical was once led by way of Accel with participation from present buyers Norwest Challenge Companions and Avataar Ventures.

The corporate provides advent, distribution, and monetisation of are living, linear, and on-demand channels throughout cable, OTT, and CTV-led Loose Advert-supported Streaming TV (FAST) platforms globally.

“It is a a very powerful juncture for our trade as we glance to hit a hyper enlargement trajectory by way of making a successful mixture of objectives, processes, staff constructions and extra,” stated Baskar Subramanian, CEO and Co-founder, Amagi.

This investment will allow the corporate to boost up trade enlargement, each on the subject of Amagi’s global footprint, in addition to its product portfolio within the present media and leisure (M&E) marketplace.

Amagi stated it is going to additionally discover alternatives within the cloud and video marketplace to ship better affect around the worth chain, comparing the mergers and acquisitions (M&A) alternatives that may give a contribution to earnings enlargement or upload era features to product strains.

“As essentially the most most well-liked media SaaS corporate on this planet, Amagi is main the booming M&E business to larger heights of technological innovation and strategic enlargement,” stated Shekhar Kirani, Spouse, Accel.

Total, Amagi helps greater than 650 content material manufacturers, over 800 playout chains and over 2,000 channel deliveries on its platform in over 40 international locations.

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Amagi has presence in New York, Los Angeles, Toronto, London, Paris, Singapore, broadcast operations in New Delhi and an innovation centre in Bengaluru.

(With inputs from IANS)

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Printed on: Wednesday, March 16, 2022, 10:04 PM IST