Cloud Software for Streaming Video: Our Continued Investment in Amagi
Accel first partnered with Amagi in 2021, and we’re excited to announce our continued support as we lead Amagi’s $95mm financing round.
The growth of streaming video has been an unmistakable, decade-long trend – with viewership habits further intensified by the work-from-home era. Amid the industry-wide explosion of great content and growing viewership numbers, everything from The Price is Right to the Olympics has transitioned to the streaming world.
And with the move to streaming comes changes to how content is produced, delivered, and monetized. Enter, Amagi.
Amagi’s technology sits behind-the-scenes of the most exciting trends in media – across the globe, it is powering companies’ ability to create, distribute and monetize streamed content.
In recent years, Amagi has solved three major pain-points for its customers:
1. The move to the cloud. While it sounds strange to say this in 2022, the media world has been slow to migrate video playout, scheduling, and broadcast workflows to the cloud. The move towards streaming has sparked the digital transformation projects as content creators and broadcasters who were born in the pre-cloud era modernize their content creation and distribution stacks.
2. Media’s many-to-many problem. The explosion of content, networks, and devices has created endless complexity in delivering video from its raw format to an end device. Amagi has laid the rails for how video reaches the consumer’s screen, abstracting away the complexity of delivering video regardless of endpoint or form factor.
3. Monetization. Amagi’s technology connects content owners, end-consumption devices, and ad networks regardless of where they are in the world. Amagi’s software allows broadcasters and content owners to provide FAST (free ad supported television) to viewers, which opens up the largest viewership through FAST delivery.
Each month, Amagi powers ~150mm hours of content in over 40 countries. Customers include marquee names like NBC, Fox, Discovery, Tastemade, Roku, Vizio, Samsung, amongst others. 2021 marked a year in which Amagi technology was used to power marquee events for their customers, including the Summer Olympics.
Following in the footsteps of scaled SaaS companies like Browserstack, Chargebee, Freshworks, and Zenoti, Amagi is a category-defining SaaS business born and scaled in India, but serving a global customer base. It has been an incredible journey since we first met Baskar, Srini, Vidhya, and the rest of the team at Amagi over a decade ago. We look forward to the journey to come.