Get All Access for $5/mo

Media SaaS Company Amagi Raises $95 million, Joins the Unicorn Club The capital will enable the company to accelerate business expansion, both in terms of international footprint and product portfolio

By S Shanthi

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unsplash

Amagi, a cloud-based SaaS platform for broadcast and connected TV, has raised $95 million funding round followed by a 108 per cent YoY growth in revenues. This financing round was led by Accel with participation from existing investors Norwest Venture Partners and Avataar Ventures.This latest investment brings Amagi's valuation to more than $1 billion, making it a unicorn

"This is a crucial juncture for our business as we look to hit a hyper growth trajectory by creating a winning combination of goals, processes, team structures and more," said Baskar Subramanian, CEO and co-founder, Amagi. "Our investors have a known history of crafting the success stories of companies with the promise of potential. We look forward to leveraging their astute understanding of the B2B SaaS landscape to successfully navigate the market intricacies and position ourselves for sustained success in the coming years," he added.

This funding will enable the company to accelerate business expansion, both in terms of Amagi's international footprint, as well as its product portfolio in the current media and entertainment (M&E) market. The company will increase sales and marketing by fivefold across the globe. Amagi will also explore allied and adjunct opportunities in the cloud and video market to deliver greater impact across the value chain, evaluating the mergers and acquisitions (M&A) opportunities that can contribute to revenue growth or add technology capabilities to product lines.

"As the most preferred media SaaS company in the world, Amagi is leading the booming M&E industry to greater heights of technological innovation and strategic growth," said Shekhar Kirani, partner, Accel. "Amagi's impressive momentum is a direct result of its cutting-edge products, superior customer experience and talented leadership. We are thrilled to help fuel the company's long-term success," he added.

The company offers creation, distribution, and monetization of live, linear, and on-demand channels across cable, OTT, and CTV-led Free Ad-supported Streaming TV (FAST) platforms, worldwide. "The streaming market is ripe for technologies and innovations that improve how content owners, video platforms and advertisers engage with customers—and capture customer loyalty," said Dave Zilberman, General Partner, Norwest Venture Partners.

"The media industry has been swept up in a content storm with consumers demanding high-quality, personalized content at faster-than-ever turnaround speeds. Amagi has enabled major media players to stay relevant in these times of change, while helping them to extract nearly 40% operational savings through cloud solutions. Avataar's operating VC model will actively support the very talented Amagi team to navigate this hyper-growth journey as a global leader," added Nishant Rao, founding partner, Avataar Ventures.

S Shanthi

Former Senior Assistant Editor

Shanthi specializes in writing sector-specific trends, interviews and startup profiles. She has worked as a feature writer for over a decade in several print and digital media companies. 

 

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Growing a Business

Why Business Owners Should Streamline Their Operations Now for Success in 2025

As the holiday season and year-end approach, business owners face heightened operational demands, from inventory management to spend control. By streamlining these processes and partnering with flexible suppliers, businesses can maintain efficiency, meet customer needs and focus on growth while navigating this busy period.

News and Trends

2025 to Test AI Ideas for Viability: Sequoia's 3 Predictions

If 2024 was AI's primordial soup year, 2025 will be about the foundations solidifying, according to David Cahn, partner at Sequoia Capital