Amagi raises over $100 million from General Atlantic

An investment from General Atlantic brings Amagi's valuation to $1.4 billion, an increase from its unicorn valuation achieved just seven months prior. #pressrelease

November 10, 2022

1 Min Read

NEW YORK – Amagi, a leading media technology provider, today announced over $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, even amidst prevailing market conditions. Since then, Amagi has continued to grow and crossed the $100 million ARR threshold after a record second quarter (July-September). The three venture capitalist firms remain as Amagi's investors along with Premji Invest and Nadathur Holdings. General Atlantic's investment is expected to close following receipt of regulatory approval.

Amagi offers a full suite of solutions for the creation, distribution, and monetization 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 for customers and invest in AI-driven personalization, advertising, and live streaming solutions, particularly in the FAST ecosystem. With the global media and entertainment industry projected to reach nearly US $3tn in revenues by 2026, Amagi believes there are significant opportunities for growth through organic and inorganic activities.

Amagi's clients include ABS-CBN, A+E Networks UK, beIN Sports, Curiosity Stream, Cinedigm, Warner Bros. Discovery, Fox Networks, Fremantle, Gannett, Gusto TV, NBCUniversal, Tastemade, Tegna, and Vice Media, among others. The company has now expanded into Germany, South Korea, and Australia, bolstering its international presence and staying closer to customers in growth markets.

Read the full press release here.


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