Streaming technology provider Amagi has secured $100 million in investment from private equity firm General Atlantic, the company has announced.
Amagi, which counts A+E Networks UK, beIN Sports, Fox Networks, NBCUniversal, Tastemade and Vice Media among its clients says this pushes the company’s valuation up to $1.4 billion from $1 billion in March.
“We have set ourselves the ambitious goal of developing futuristic technology solutions that can help media companies deliver premium personalized content and engaging advertising experiences to their consumers,” said Baskar Subramanian, Co-founder and CEO of Amagi.
Amagi offers a full suite of solutions for the creation, distribution, and monetization of live, linear, and on-demand channels across cable, OTT, and CTV-led free ad-supported streaming TV (FAST) platforms.
“Amagi has demonstrated a consistent ability to anticipate key trends, acting as an early mover in the rise of free ad-supported streaming TV. The company has also championed the use of cloud technology to optimize results for their broadcast and streaming partners globally,” said Shantanu Rastogi, Managing Director and Head of India at General Atlantic. “We look forward to partnering with the Amagi leadership team to further fast track their growth as they continue to shape the future of cloud-based broadcast.”
Accel, Norwest Venture Partners and Avataar Ventures remain as investors along with Premji Invest and Nadathur Holdings.