Amagi Raises $100M to Power Next-Gen Media Technology Platform | Media Investments | business | news

In 2022, cloud-based SaaS broadcast and CTV technology provider Amagi expanded into new territories, improved its core platform and saw revenue jump. The company ends the year with an investment of over $100 million from global growth equity firm General Atlantic.
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The investment includes $80 million in primary capital and takes Amagi’s valuation to $1.4 billion, an increase from the billion-dollar Unicorn valuation at which it invested $95 million seven months ago achieved by Accel, Norwest Venture Partners and Avataar Ventures. Since then, Amagi has continued to grow and surpassed $100 million in annual recurring revenue (ARR) after a record second quarter (July-September). The three venture capital firms remain investors in Amagi along with Premji Invest and Nadathur Holdings. General Atlantic’s investment is expected to close upon receipt of regulatory approval.

Shantanu Rastogi, General Atlantic’s Managing Director and Head of India, explained the rationale behind the company’s investment, noting that Amagi has demonstrated a consistent ability to anticipate key trends and act as a pioneer in the rise of free streaming TV, supported by advertising have. “The company has also championed the use of cloud technology to optimize outcomes for its broadcast and streaming partners worldwide,” he said.

With this latest funding, Amagi expects to strengthen its customer support infrastructure and invest in AI-driven personalization, advertising and live streaming solutions, particularly in the FAST ecosystem. With the global media and entertainment industry projected to reach nearly $3 trillion in revenue by 2026, Amagi believes there are significant opportunities for growth through both organic and inorganic activities.

“We have set ourselves the ambitious goal of developing futuristic technology solutions that can help media companies deliver personalized, premium content and engaging advertising experiences to their customers,” added Baskar Subramanian, co-founder and CEO of Amagi. “We believe that General Atlantic, with its proven track record of helping technology companies build enduring models, is the ideal investment partner for this phase of our growth trajectory. We are thrilled to have their support and look forward to utilizing their expertise.”


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