Amagi becomes unicorn after raising $95Mn

Cloud-based media Saas technology company Amagi has scooped up $95 million in a new round led by existing investor Accel with participation from Norwest Venture Partners and Avataar Ventures.

According to Amagi, the company has raised fresh funds at a valuation of more than $1 billion, making it the newest to join the coveted club of unicorns. It has raised over $245 million to date.

Amagi enables content owners to launch, distribute and monetise live linear channels on free-ad-supported television and video services platforms through a suite of solutions. Amagi claims to support over 650 content brands, more than 800 playout chains and over 2,000 channel deliveries on its platform in over 40 countries.

The company has a presence in New York, Los Angeles, Toronto, London, Paris, Singapore, broadcast operations in New Delhi and an innovation centre in Bengaluru. The company’s clients include NBCUniversal, CBS, USA Today and Japan’s Rakuten Group Inc.

Amagi recorded a 59% surge in new customers in 2021 and a 108% year-on-year revenue growth. The company had raised $100 million from Accel, Avataar Ventures, Norwest Venture and Premji Invest last year.