Amagi, a New Delhi, India-based cloud-based SaaS technology for broadcast and connected TV, raised $95 million in a funding round led by Accel, with participation from existing investors Norwest Venture Partners and Avataar Ventures.
This latest investment brings Amagi’s valuation to more than $1 billion, making it a unicorn and one of the highest-valued media tech companies worldwide.
This funding will enable the company to accelerate business expansion both in terms of Amagi's international footprint and product portfolio in the current media and entertainment (M&E) market.
The startup has also announced a 108 percent year-on-year growth in revenues.
Company: Amagi Media Labs Pvt Ltd.
Raised: $95.0M
Round: Unknown
Funding Month: March 2022
Lead Investors: Accel
Additional Investors: Norwest Venture Partners and Avataar Ventures
Company Website: https://www.amagi.com/
Software Category: Cloud-based Broadcast Solution
About the Company: Founded in 2008 with the clear purpose of launching new technologies to positively impact the media and entertainment industry. Amagi is a global media tech firm that offers targeted advertising and cloud-based broadcast solution for TV and OTT platforms. Amagi was incubated at the Indian Institute of Management Bangalore’s (IIMB) N.S. Raghavan Center for Entrepreneurship and Learning (NSRCEL). Amagi has grown rapidly to manage 350+ channels across 40+ countries, with sales offices in Los Angeles, New York, London, Singapore, Mumbai, New Delhi, and an innovation and operations center in Bangalore.
Source: https://yourstory.com/2022/03/funding-alert-amagi-unicorn-saas-media-cloud-startup-norwest/amp