Normal Atlantic values media tech Amagi at $1.4 billion in new funding • TechCrunch

Amagi, which affords cloud broadcast and targeted advertising software to scores of media and leisure giants, has raised a big new funding spherical because it appears to increase its tech choices and spend money on an AI-powered personalization stack.

Normal 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 stated in an announcement. The Sequence F funding has propelled Amagi’s valuation to $1.4 billion, up from $1 billion in March this 12 months.

The startup, which has raised about $350 million to this point (in keeping with perception agency Tracxn), stated it crossed the $100 million annualized recurring income (ARR) for the second time within the quarter that resulted in September.

Amagi’s platform permits its purchasers to create content material that may be monetized and distributed through broadcast TV and streaming TV platforms equivalent 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 — told TechCrunch in an earlier interview that it has simplified its tech stack to some extent that even a consumer with out a lot expertise assets can use and scale with it.

Amagi stated on the time that it had helped clients deliver down their operational value financial savings by as much as 40%, in comparison with conventional supply fashions as advert impressions shot up by as much as 10 occasions.

Its purchasers embody NBCUniversal, Warner Bros. Discovery, Fox Community, ABS-CBN, A+E Networks UK, beIN Sports activities, Curiosity Stream, Gannett, Gusto TV and Vice Media.

“Now we have set ourselves the formidable objective of growing futuristic expertise options that may assist media corporations ship premium personalised content material and fascinating promoting experiences to their shoppers,” stated Baskar Subramanian, co-founder and CEO of Amagi.

Amagi plans to deploy the contemporary funds to increase its infrastructure choices and spend money on AI-driven personalisation, promoting and reside streaming options, it stated.

“Amagi has demonstrated a constant capability to anticipate key tendencies, appearing 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,” stated Shantanu Rastogi, managing director and head of India at Normal Atlantic, in an announcement.

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