Cloud-based SaaS technology for broadcast and connected TV Amagi raised $95 million in funds led by Accel where existing investors Norwest Venture Partners and Avataar Ventures also participated.
Amagi is a next-generation media technology firm that supplies TV networks and OTT providers around the world with cloud broadcast and targeted advertising platforms. Amagi has over 40 installations worldwide, allowing TV networks to build, operate, and monetize channels from anywhere on the planet. The funds will be used to expand Amagi's international footprint as well as its product line in the current media and entertainment (M&E) sector, with sales and marketing being increased fivefold globally. The company's revenue has increased by 108% year over year.