Amagi provides Cloud-based localized advertising on national TV channels
Bengaluru – Dec 15, 2016. RedNewswire/-
Amagi, which provides cloud based Geo targeted TV advertising services has raised $35M in series D funding round from KKR-backed investment firm Emerald Media. Emerald Media will hold a minority stake in Amagi. Exisiting investor PremjiInvest also participated in the round.
The was founded in 2008 by Baskar Subramanian, Srinivasan KA, and Srividhya Srinivasan, Amagi partners with TV networks, cable and DTH operators and enables advertisers to show location targeted ads on National TV channels. Local advertisers can also buy ad spots.
The company also offers TV networks channel origination, cloud based content playout, media asset management and channel branding, subtitling, traffic and scheduling services.
Amagi enables advertisers to target audiences at a regional level across traditional TV and OTT multiscreen platforms.
The company has offices in New York City, London and Hong Kong as well, and claims to have more than 3,000 brands in its ad network. The newly raised funds will be used to enhance its R&D efforts around Geo-targeted advertising.
Baskar Subramanian, co-founder of Amagi, said..
“The company will use the growth capital from this round of funding to expand its targeted advertising platforms globally, enter new international markets for its cloud-based managed broadcast services and introduce a host of products to cater to the various needs of TV broadcasters and OTT (over-the-top) networks.”
Rajesh Kamat, Managing Director, Emerald Media said,
“Amagi has harnessed the transformative power of technology (both hardware and software) to change the way TV networks and brands perceive content delivery and monetisation. Their cutting-edge technology is disruptive and the need of the hour.”
Amagi has previously raised $5.4M in Series A round from Nadathur Estates in aug 2011. Following that raised $5.3M in SeriesB funding round from Mayfield, Nadathur Estates, Ojas Venture Partners in july 2013. Again raised $15M in series C round from Mayfield & Premji Invest in 2015.
Featured image source