Amagi has announced receiving more than US$100 million in investment, inclusive of $80 million in primary capital, 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 with a $95 million investment from Accel, Norwest Venture Partners and Avataar Ventures.
Baskar Subramanian, Co-founder & CEO of Amagi, said, “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.
“We believe that General Atlantic, with their long-standing history of helping technology companies build enduring models, is the ideal investment partner for this stage of our growth journey.”
Amagi offers a full suite of solutions for the creation, distribution, and monetisation of live, linear, and on-demand channels across cable, over-the-top (OTT), and CTV-led free ad-supported streaming TV (FAST) platforms globally.
With this latest funding, the company expects to strengthen its support infrastructure for customers and invest in AI-driven personalisation, advertising, and live streaming solutions, particularly in the FAST ecosystem.
Shantanu Rastogi, Managing Director & Head of India at General Atlantic, added, “Amagi has demonstrated a consistent ability to anticipate key trends, acting as an early mover in the rise of free ad-supported streaming TV. 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 further fast track their growth as they continue to shape the future of cloud-based broadcast.”