Funding · Enterprise Software & IT

Amagi raises over $100m led by General Atlantic

By Startup Enthusiast · 1 November 2022

What they do

Amagi is a cloud-based media SaaS platform for content creation, distribution and monetization

It raised over $100 million in a primary and secondary round led by General Atlantic, valuing it at about $1.45 billion

The company turned profitable in FY21 with a net profit of Rs 20.7 crore and serves 650+ content brands globally

Amagi raised over $100 million in a new round led by General Atlantic.
The primary round was Rs 655 crore ($82 million) via Series F compulsory convertible preference shares.
A secondary transaction saw General Atlantic acquire shares from an existing investor for Rs 220 crore ($27.5 million).
The total round size, including primary and secondary, was $110 million.
General Atlantic now holds an 8% stake in Amagi post transaction.
The post-allotment valuation is estimated at ~$1.45 billion.
Amagi has raised over $350 million in total so far.

This round comes just months after Amagi became a unicorn with a $95 million round led by Accel in March 2022.
The company turned profitable in FY21 with a net profit of Rs 20.7 crore, compared to a loss the previous year.
General Atlantic also announced it is launching a $2 billion fund for growth-stage startups in India and Southeast Asia.

Amagi is a cloud-based media SaaS platform for content creation, distribution and monetization.
It supports 650+ content brands, 800+ playout chains, and 2,000+ channel deliveries in over 40 countries.
Its largest market is the United States.
The Amagi NOW platform unifies ingest, production, media management, scheduling, distribution and monetization with an AI agentic engine called Amagi Intelligence.
It delivers 9,000+ channel deliveries across platforms and serves 300+ streaming platforms and pay-TV operators from a single feed.
Amagi THUNDERSTORM generates 26 billion+ ad impressions annually.
Customers include broadcasters, content partners, distributors (FAST platforms, vMVPDs, device OEMs), advertisers and sports rights holders.
It serves the NHL for live sports streaming with low-latency cloud playout, AI clipping and dynamic monetization.

Amagi plans to use the funds to expand its platform and grow its global presence.
General Atlantic will deploy a $2 billion fund for growth-stage startups in India and Southeast Asia over the next two years.

General Atlantic (lead) — A global growth equity firm that also announced a $2 billion fund for India and Southeast Asia.