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Amagi, which presents cloud broadcast and focused promoting software program to scores of media and leisure giants, has raised a big new funding spherical because it seems to develop its tech choices and put money into AI-powered personalization stack.
Common Atlantic led a brand new spherical of over $100 million, which included about $20 million in secondary buybacks, the New York and Bengaluru-headquartered startup mentioned in an announcement. The Collection F funding has propelled Amagi’s valuation to $1.4 billion, up from $100 million in March this 12 months.
The startup, which has raised about $350 million to this point (in line with perception agency Tracxn), mentioned it crossed the $100 million annualized recurring income (ARR) for the second time within the quarter that led to September.
Amagi’s platform permits its shoppers to create content material that may be monetized and distributed by way of broadcast TV and streaming TV platforms akin to The Roku Channel, Samsung TV Plus and Pluto TV.
The corporate already helps greater than 2,000 channels on its platform throughout dozens of nations together with Australia, Germany and South Korea — markets the place it not too long ago expanded.
The startup — whose backers embody Accel, Norwest Enterprise Companions, Avataar Ventures, and Premji Make investments — instructed TechCrunch in an earlier interview that it has simplified its tech stack to some extent that even a shopper with out a lot expertise assets can use and scale with it.
Amagi mentioned on the time that it had helped clients deliver down their operational price financial savings by as much as 40%, in comparison with conventional supply fashions as advert impressions shot up by as much as 10 instances.
Its shoppers embody NBCUniversal, Warner Bros. Discovery, Fox Community, ABS-CBN, A+E Networks UK, beIN Sports activities, Curiosity Stream, Gannett, Gusto TV and Vice Media.
“We have now set ourselves the formidable purpose of growing futuristic expertise options that may assist media corporations ship premium personalised content material and fascinating promoting experiences to their shoppers,” mentioned Baskar Subramanian, Co-founder and CEO of Amagi.
Amagi plans to deploy the contemporary funds to develop its infrastructure choices and put money into AI-driven personalisation, promoting, and dwell streaming options, it mentioned.
“Amagi has demonstrated a constant capability to anticipate key developments, performing as an early mover within the rise of free ad-supported streaming TV. The corporate has additionally championed using cloud expertise to optimise outcomes for his or her broadcast and streaming companions globally,” mentioned Shantanu Rastogi, Managing Director and Head of India at Common Atlantic, in an announcement.
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