Amagi raises $95M, enters unicorn club
Amagi, a cloud-based SaaS technology for broadcast and connected TV, solidified its position as a SaaS media company with a new $95 million funding round followed by a 108 percent YoY growth in revenues.
Good Morning,
It’s not even been three months into the year and India has already has 13 new unicorns.
SaaS mediatech startup Amagi raised $95 million in a round led by Accel, with participation from existing investors Norwest Venture Partners and Avataar Ventures.
Bengaluru-based startup also announced a 108 percent year-on-year growth in revenues.
offers creation, distribution, and monetisation of live, linear, and on-demand channels worldwide. The“This is a crucial juncture for our business as we look to hit a hyper-growth trajectory by creating a winning combination of goals, processes, team structures, and more," said Baskar Subramanian, CEO and Co-founder, Amagi.
With the fundraising, Amagi has now entered the coveted unicorn club — which boasts of startups including CredAvenue, Polygon, DealShare, Darwinbox, Livspace etc that entered this year.
Last year, India saw a record 44 startups crossing the billion-dollar valuation mark. But this record may break this year. According to a PwC report, over 50 Indian startups have the potential to enter the unicorn club in 2022.
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- Bengaluru-based fintech unicorn Razorpay on Wednesday announced its fifth acquisition of IZealiant Technologies, which provides payments technology solutions for banks, for an undisclosed amount.
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