Amagi becomes 15th SaaS Unicorn

Software as a Service Startup- Amagi has become the 15th SaaS Unicorn in the country joining the likes of Darwinbox, Chargebee, etc. A company or a startup is said to achieve the status of a Unicron when its valuation crosses $1 billion. In its latest funding round, Amagi, which is a SaaS company for broadcast and streaming television has raised $95 million. This funding round was led by Accel. Amagi is the 12th Indian Company to become Unicorn this year. CEO and co-founder of Amagi Baskar Subramanian said: “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.” Amagi was founded by Baskar Subramanian, Srinivasan KA, and Srividhya Srinivasan around 14 years ago. It gives its services to companies like NBCUniversal, Paramount, A E Networks UK, etc. Nishant Rao, Founding Partner, Avataar Ventures said: "Amagi has enabled major media players to stay relevant in these times of change while helping them to extract nearly 40% operational savings through cloud solutions. Avataar's operating VC model will actively support the very talented Amagi team to navigate this hyper-growth journey as a global leader."