Amagi secures $ 100 million from Accel, Avataar Ventures, Norwest Venture Partners and Premji Invest

As part of the investment, the venture capital funds bought out the stake held by Emerald Media and Mayfield Fund from KKR. Nadathur Holdings continues to invest in Amagi.

Amagi works with broadcast media and connected TV clients such as A + E Networks UK, beIN Sports, CuriosityStream, Discovery Networks, Fox Networks, Fremantle, Tastemade, Tegna, Vice Media and Warner Media and offers creative solutions , distribution and monetization.

It participates in the $ 50 billion cloud-based video content creation, distribution and monetization marketplace.

The company will use the funds to expand its global presence.

“Amagi will benefit immensely from the collective experience of Accel, Avataar, Norwest and Premji Invest to rapidly grow our business and expand our global presence,” said Baskar Subramanian, co-founder and CEO of Amagi.

New investments will provide media companies with the efficiency they so badly need to succeed in traditional broadcasting and the evolving OTT and streaming TV world, he said.

Amagi started in 2008 in India as a cloud-based geo-targeted TV advertising company, but shifted to SaaS streaming and streaming of 24/7 live linear channels in 2018 .

With 800 channels on its platform, Amagi’s distribution extends to 40 countries via cable, connected TV and OTT. In addition, it has developed technical integration with ad-supported platforms such as The Roku Channel, Samsung TV Plus, Pluto TV, Plex, Redbox, STIRR, VIZIO, Xumo and 30 other OTT platforms. This provides comprehensive distribution coverage for content owners to reach audiences in the United States, Latin America, Europe, and Asia.

The move comes as ad spending shifts to connected TV and OTT. Media companies, on the other hand, strive to maximize revenue and focus on profitability amid changing consumer preferences.

“The global media and entertainment industry is poised to experience unprecedented growth. Amagi’s industry-leading cloud technology enables content owners – large and small – to reach larger audiences, deliver personalized content, attract advertisers and lower operating costs ” , said Shekhar Kirani, partner, Accel.