Amagi has secured over $100 million in funding, which it says it intends to use to help it support media companies in both the traditional broadcast and OTT and streaming space.
Accel, Avataar Ventures, Norwest Venture Partners, and existing investor Premji Invest have collectively invested over $100 million in the company. The venture funds have bought out the stake held by Emerald Media (an investment platform backed by KKR) and Mayfield India. Nadathur Holdings continues as 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,” said Baskar Subramanian, Amagi 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.”
Amagi provides cloud broadcast and targeted advertising software to help customers distribute their content via broadcast TV and streaming TV platforms like The Roku Channel, Samsung TV Plus and Pluto TV. The company already supports more than 2,000 channels on its platform across over 40 countries.