Private equity giants TPG and General Atlantic are in talks to invest $100m in the media technology firm Amagi, as per news reports. This will bring the value of the company to $1.4bn.
Amagi, which helps companies create, distribute and monetise streamed content, is a profitable start-up. The company has crossed over $100 million in revenue. Amagi is a software as a service (SaaS) venture and provides targeting advertising software and cloud broadcast. It was established in 2008 by Srinivasan KA Baskar Subramanian and Srividhya Srinivasan.
In March this year, Amagi raised $95 million in a funding round led by Accel. The round also saw participation from existing investors Avataar Ventures and Norwest Venture Partners. The funding brought Amagi’s valuation to over $1 billion, making it one of the most highly-valued tech companies in the world. The unicorn’s clients include CBS, USA Today, NBCUniversal, and Japan’s Rakuten Group Inc.
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