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Amagi Media Labs, a cloud-based SaaS technology startup specializing in broadcast and connected TV, has raised more than $100M in funding. With distribution in 40 countries across cable, connected TV, and OTT, Amagi has grown to become one of the world’s largest cloud deployment partners.
Amagi Media Labs, a cloud-based SaaS technology broadcast and connected TV, has announced that it has collectively raised over $100 million. The participants include existing investor Premji Invest; and other investors such as Accel, Avataar Ventures, and Norwest Venture Partners.
Emerald Media (an investment platform supported by KKR) and Mayfield India sold their stakes to the venture funds. Nadathur Holdings remains an existing investor.
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. 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.Baskar Subramanian, co-founder and CEO of Amagi
The deal heralds the collaboration of SaaS venture funds with one of the world’s leading media SaaS firms to help the $50 billion cloud-based video content production, delivery, and monetization market gain even more traction. The transaction will give media firms the agility and efficiency needed to compete in traditional broadcast and the rapidly developing world of OTT and streaming TV.
“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 personalized content, attract advertisers, and reduce cost of operations. 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 monetization,” said Shekhar Kirani, a partner at Accel.
According to the company’s press release, Amagi has become one of the largest cloud deployment partners in the world, with distribution in 40 countries across cable, connected TV, and OTT, and over 800 channels on its platform, including playout and redundancies. It has also built deep technical integrations with ad-supported platforms like The Roku Channel, Samsung TV Plus, Pluto TV, Plex, Redbox, STIRR, VIZIO, Xumo, and other top 30 OTT platforms, giving content owners one of the most comprehensive distribution coverages in the US, Latin America, Europe, and Asia.
Atul Gupta, a partner at Premji Invest, said, “We have seen Amagi strengthen their leading position in the media SaaS market over the last five years because of their nimbleness, innovative technology, and customer focus. This cements our confidence in Amagi, and we continue to invest in them.”
Amagi offers a full range of content development, distribution, and monetization services. A state-of-the-art cloud broadcast operations center that can accommodate 1000+ live, linear channels is also available. A+E Networks UK, beIN Sports, CuriosityStream, Discovery Networks, Fox Networks, Fremantle, Tastemade, Tegna, Vice Media, and Warner Media are among Amagi’s clients.