India-based media technology startup, Amagi has raised $109 million at a valuation of $1.4 billion.
- The fresh investment includes $80 million in primary capital from General Atlantic, while the rest is from secondary stake sales.
- Early this year, the startup secured $95 million in a funding round led by Accel, shooting its valuation to the $1 billion mark.
- Founded in 2008, Amagi allows broadcasters to virtualize operations on the cloud, enabling them to manage, schedule content and streamline programming remotely through its ‘CloudPort’ offering.
- It also provides solutions for personalized insertions of advertisements through its ‘Thunderstorm’ offering. Other solutions include PayTV solutions and analytics for broadcasters.
- Amagi counts big-name media firms among its clientele including ABS-CBN, Warner Bros. Discovery, Fox Networks, Fremantle, Gannett, Gusto TV, NBCUniversal, Vice Media, among others.
- The startup also has a presence in Germany, South Korea, and Australia.
- In a statement, Amagi disclosed that it will use the funding to strengthen its support infrastructure for customers, build AI-based personalization models and spend more on advertising.
- The startup will also invest more in live streaming solutions, particularly in the FAST (free ad-supported streaming TV) ecosystem.