Amagi Media has raised $35 million in a series D round of funding from Emerald Media for a significant minority stake. Among existing investors, Premji Invest participated in this round, while Mayfield India and Nadathur Holdings continue to retain holdings in the company.
The company will use the funding for expanding its targeted advertising platforms globally, entering new international markets including the UK, US and Singapore, for its cloud-based managed broadcast services, and to introduce new products for TV broadcasters and over-the-top (OTT) networks.
Amagi had previously raised an undisclosed amount in funding from Premji Invest (the family office of Wipro’s chairman Azim Premji) and from Mayfield Fund in January 2015. It had also raised Rs 30 crore from Mayfield Fund and existing investors, Nadathur Group and Ojas Ventures in July 2013, adding to the Rs 37 crore it raised from Nadathur Group and Ojas Ventures back in 2011.
The ad network currently offers a geo-targeted advertising platform designed for TV broadcasters who air programmes outside the country of its origin, allowing them to replace ad breaks on satellite feeds with local ads. Last year, the company had launched a new managed playout service that helps broadcasters simplify video content preparation, management and delivery using its cloud platform. This year, it also launched a new ad insertion platform called Thunderstorm that delivers targeted advertising for premium live sports and news feeds.
In India, Amagi works with broadcasters like Zee Network, TV18 group and Times Group among others. It claims to have tie ups with more than 2,000 advertisers, of which prominent ones include Hindustan Unilever, PepsiCo, P&G, ICICI Bank, Shoppers Stop, Wipro, Myntra and Lenskart among others.