Amagi, a media technology startup, has raised more than $100 million (roughly Rs 800 crore) in new funding from global private equity firm General Atlantic, bringing the company’s valuation to $1.4 billion.
According to the company’s statement, $80 million (approximately Rs 640 crore) of the $100 million raised is a primary market transaction.
The Bengaluru-based company intends to use the additional funds to strengthen its customer support infrastructure and to invest in artificial intelligence-driven personalization, advertising, and live streaming solutions.
Baskar Subramanian, Srinivasan K.A., and Srividhya Srinivasan founded Amagi in 2008. It assists media companies in the creation, distribution, and monetization of streaming content across cable, satellite, and over-the-top media services.
Amagi became a unicorn in March of this year after raising $95 million in a funding round led by Accel and including Norwest Venture Partners and Avataar Ventures.
The platform of Amagi connects content owners and distribution channels. Media behemoths such as NBCUniversal, CBS, USA Today, and Japan’s Rakuten Group are among the startup’s clients.
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