Funding · Enterprise Software & IT

Amagi raises $95M, becomes unicorn

By Startup Enthusiast · 16 March 2022

What they do

Amagi provides a cloud-based SaaS platform for creating, distributing, and monetising TV channels

It raised $95 million led by Accel, reaching a valuation of over $1 billion

The company plans to expand internationally and explore acquisitions for growth

Amagi raised $95 million (~Rs 723 crore) in a new funding round.
The round was led by Accel, with participation from Norwest Venture Partners and Avataar Ventures.
This investment made Amagi a unicorn (a startup valued at over $1 billion).
The company plans to use the funds to accelerate international expansion and grow its product portfolio.
Amagi also aims to increase sales and marketing five-fold globally and explore mergers and acquisitions.
The company has raised over $280 million in total to date (one source says over $245 million).

Amagi is one of over a dozen startups that turned unicorn in 2022, including Hasura, LEAD, and Mamaearth.
The company reported 108% year-on-year revenue growth and a 59% surge in customers onboarded in 2021.
It turned profitable in FY21 with a net profit of Rs 20.7 crore, compared to a loss of Rs 18.7 crore in FY20.

Amagi is a cloud-based SaaS platform for creating, distributing, and monetising live, linear, and on-demand TV channels.
It enables content owners to launch channels on free ad-supported streaming TV (FAST) and video services.
The platform supports over 650 content brands, more than 800 playout chains, and over 2,000 channel deliveries in over 40 countries.
Customers include NBCUniversal, Paramount, Samsung TV Plus, Roku, and VIZIO.
Amagi has offices in New York, Los Angeles, Toronto, London, Paris, Singapore, New Delhi, and Bangalore.
It delivers over 9,000 channels across platforms and generates over 26 billion ad impressions annually.

Amagi plans to accelerate international expansion and grow its product portfolio in media and entertainment.
It aims to increase sales and marketing five-fold globally and explore M&A for revenue or technology capabilities.

Accel (lead) — A global venture capital firm that led the round.
Norwest Venture Partners (participated) — A venture capital firm that participated in the round.
Avataar Ventures (participated) — A venture capital firm that participated in the round.