Amagi secures $100m funding, targets personalisation, live streaming and ads

Media technology provider Amagi has announced $100 million in investment, from global growth equity firm General Atlantic. The investment brings Amagi’s valuation to $1.4 billion, representing an increase from the $1 billion valuation the company achieved in March 2022 when it secured a $95 million investment injection.

Baskar Subramanian

Amagi currently offers a range of solutions for the creation, distribution, and monetisation of live, linear, and on-demand channels across cable, OTT, and CTV-led free ad-supported streaming TV (FAST) platforms globally. With this latest funding, the company expects to strengthen its support infrastructure and invest in AI-driven personalisation, advertising, and live streaming solutions, particularly in FAST.

“We have set ourselves the ambitious goal of developing futuristic technology solutions that can help media companies deliver premium personalised content and engaging advertising experiences to their consumers,” said Baskar Subramanian, co-founder and CEO of Amagi. “We believe that General Atlantic, with their history of helping technology companies build enduring models, is the ideal investment partner for this stage of our growth journey. We look forward to leveraging their expertise.”

“Amagi has demonstrated a consistent ability to anticipate key trends, acting as an early mover in the rise of free ad-supported streaming TV,” said Shantanu Rastogi, managing director and head of India at General Atlantic. “The company has also championed the use of cloud technology to optimise results for their broadcast and streaming partners globally. We look forward to partnering with the Amagi leadership team to fast track their growth as they shape the future of cloud-based broadcast.”

Fast-growing Amagi’s clients include A+E Networks UK, beIN Sports, Warner Bros. Discovery, Fremantle, NBCUniversal, and Vice Media. General Atlantic is a global growth equity firm that has over $73 billion in assets under management.