SUMMARY
The acquisition will enable Amagi to integrate proprietary and third-party data to provide unified analytics to its customers
Streamwise CEO Doug Shineman will join Amagi as the business development head for its new analytics vertical
The acquisition comes barely weeks after Amagi raised a mammoth $100 Mn funding from General Atlantic earlier this month
Media-focused SaaS startup Amagi has acquired US-based data platform for content distributors, Streamwise, for an undisclosed amount.
The acquisition will enable Amagi to scale up its data solutions capabilities and leverage Steamwise’s comprehensive reporting and dashboards. The move will also enable Amagi to integrate proprietary and third-party data to provide unified analytics to its customers.
As part of the deal, Streamwise chief executive officer (CEO) Doug Shineman will join Amagi as the business development head for its new analytics vertical.
This is Amagi’s first investment after raising a mammoth $100 Mn funding from General Atlantic earlier this month.
“What content brands need now more than ever is information at their fingertips. The genius of Streamwise’s data platform lies in its simplicity and accessibility, making it an excellent value addition to Amagi’s SSAI (server-side ad insertion)-based ad offerings. Together, we can enable content brands to shape their programming, optimize their distribution and generate better ROI (return on investment),” said Amagi CEO and cofounder Baskar Subramanian.
Reacting to the development, Streamwise CEO Doug Shineman added, “Our combined offering will help content distributors make smart decisions and scale their business in the streaming economy by saving content, sales, marketing, and finance executives from repetitive, manual, and error-prone processes.”
Founded in 2008 by Baskar Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi offers a cloud suite for clients to create, distribute and monetise content globally. It also offers targeted advertising solutions for broadcast and streaming TV platforms.
Prior to the mega $100 Mn fundraise, Amagi had turned unicorn by raising another major $95 Mn funding round from investors such as Accel and Norwest Venture Partners in March this year.
With presence in media hubs such as New York, London, Paris and Toronto, Amagi claims to support more than 700 content brands and over 800 playout chains on its platform in 40 countries.
The SaaS unicorn plans to integrate Streamwise’s capabilities with the Amagi product suite in the coming months. Additionally, Amagi plans to deploy Streamwise’s product portfolio as standalone offerings to its customers.
This could open up Streamwise’s offerings to a wide range of customers including Amagi’s major global media clients including AccuWeather, A+E Networks UK, Fremantle, NBCUniversal, Vice Media, among others.
The media-focused SaaS giant’s net profit stood at INR 20.7 Cr in FY21, against revenue from operations of INR 219.3 Cr during the same fiscal year.
Amagi largely competes with global players such as video ad solutions startup Tremor Video, connected TV advertising platform MNTN and RV-focused adtech platform BlackArrow.
This comes amidst renewed interest in the Indian SaaS landscape. In the third quarter (Q3) of the calendar year 2022, enterprisetech emerged as the second most funded sector and raised $424 Mn across 66 deals.
According to a report, the Indian SaaS segment is expected to grow to a $30 Bn market opportunity by 2025, capturing 9% of the global SaaS market alongside during the same period.
