Buying out the stake held by investment platform Emerald Media and Mayfield India, Accel, Avataar Ventures, Norwest Venture Partners and Premji Invest have collectively invested over $100 million in cloud-based broadcast and connected TV SaaS technology provider Amagi.
The company says that the investment will go towards accelerating cloud-led innovations for cloud-based video content creation, distribution, and monetisation market which it valued at $50 billion. It added that that partnership with investors would provide media companies with necessary agility and efficiency to succeed in the traditional broadcast and the evolving OTT and streaming TV universe.
With over 800 channels on its platform, including playout and redundancies, Amagi claims to have one of the largest cloud deployment partners in the world, with distribution in 40 countries across cable, connected TV, and OTT. In addition, it has developed technical integration with ad-supported platforms such as The Roku Channel, Samsung TV Plus, Pluto TV, Plex, Redbox, STIRR, VIZIO, Xumo, VICE TV and other leading OTT platforms for content owners in the US, LATAM, Europe, and Asia.
“Amagi will immensely benefit from the collective experience of Accel, Avataar, Norwest, and Premji Invest in rapidly scaling our business and expanding our global footprint,” remarked co-founder and CEO. “Their deep understanding of B2B SaaS models will help us enhance value for our customers and partners. This will further nurture an entrepreneurial spirit in our employees, which is critical to building and embracing new technologies to solve complex business challenges.”
“The global media and entertainment industry is poised for unprecedented growth. Amagi’s market-leading cloud-based technology is enabling content owners - big and small - to reach wider audiences, deliver personalised content, attract advertisers, and reduce cost of operations,” said Accel partner Shekhar Kirani commenting on the funding. “We are incredibly positive about Amagi’s potential to grow further and consolidate its leadership position as the de facto SaaS solution for media creation, delivery and monetisation.”
“Media companies are striving hard to maximise revenues and stay profitable amidst shifting consumer preferences. Amagi accurately gauged the direction of the industry transition almost a decade ago and successfully took to market pioneering cloud solutions to meet evolving media requirements,” noted Nishant Rao, founding partner at Avataar Ventures. “We are delighted to join hands with a dynamic brand that is cloud-born and understands the pulse of the media SaaS business very well. Building on the meaningful scale they already have, we are excited to actively support them, using our Operating VC model, to create the next global leader in the media-tech SaaS space.”
With over 800 channels on its platform, including playout and redundancies, Amagi claims to have one of the largest cloud deployment partners in the world, with distribution in 40 countries across cable, connected TV, and OTT. In addition, it has developed technical integration with ad-supported platforms such as The Roku Channel, Samsung TV Plus, Pluto TV, Plex, Redbox, STIRR, VIZIO, Xumo, VICE TV and other leading OTT platforms for content owners in the US, LATAM, Europe, and Asia.
“Amagi will immensely benefit from the collective experience of Accel, Avataar, Norwest, and Premji Invest in rapidly scaling our business and expanding our global footprint,” remarked co-founder and CEO. “Their deep understanding of B2B SaaS models will help us enhance value for our customers and partners. This will further nurture an entrepreneurial spirit in our employees, which is critical to building and embracing new technologies to solve complex business challenges.”
“The global media and entertainment industry is poised for unprecedented growth. Amagi’s market-leading cloud-based technology is enabling content owners - big and small - to reach wider audiences, deliver personalised content, attract advertisers, and reduce cost of operations,” said Accel partner Shekhar Kirani commenting on the funding. “We are incredibly positive about Amagi’s potential to grow further and consolidate its leadership position as the de facto SaaS solution for media creation, delivery and monetisation.”
“Media companies are striving hard to maximise revenues and stay profitable amidst shifting consumer preferences. Amagi accurately gauged the direction of the industry transition almost a decade ago and successfully took to market pioneering cloud solutions to meet evolving media requirements,” noted Nishant Rao, founding partner at Avataar Ventures. “We are delighted to join hands with a dynamic brand that is cloud-born and understands the pulse of the media SaaS business very well. Building on the meaningful scale they already have, we are excited to actively support them, using our Operating VC model, to create the next global leader in the media-tech SaaS space.”
