Srinivasan Ka, Co-Founder of Amagi, joins Cheddar News' Closing Bell, where he discusses the solutions his company is providing television networks and other firms to thrive in the streaming world. Ka also elaborates on how Amagi will use the $95 million raised in its latest funding round.

Closing Bell

Amagi Ascends to Unicorn Status With Latest Funding Round

um moggie immediate technology company providing cloud broadcast and targeted advertising solutions To broadcast TV and streaming TV platforms is turning up the volume when it comes to new funding startup announcing a $95 million $1 billion. So joining me now is Srini ca co founder of a Maggie Schweini, thanks so much for coming on the show in simple terms here, elaborate on the solutions to me that you're providing networks, brands and other platforms when it comes to streaming. Hi, Christine, it's a pleasure to be here. Thanks for having me. Um McGee is the cloud platform for tv. We provide a SAS technology platform for television networks, streaming content owners and Tv platforms, helping them to create 24 7 live linear channels on the cloud, distribute them to cable, satellite, a word, S word fast. The free ad supported streaming tv platforms and help them monetize it through dynamic, personally targeted advertising. Uh P R. The global market leader in fast, the free, ad supported streaming tv market and in cloud based broadcasting for television. Just raising some fresh funding. Sri ni, what are you going to use this money to expand with? Uh First and foremost, you know, expand in terms of product being able to do live cloud production. Ai ml based content personalization for streaming cTV connected TVs stack. Uh So a bunch of product development to expand uh the solution that we offer to our customers and will also be investing significantly in expanding our international footprint growing in latin, europe and APAC and growing our sales and marketing teams overall. So I do see that you broadcast with some pretty large networks, NBC and Fox as well as digital content owners and even O T T platforms. How are the needs of each of these companies different and how are you catering to each different one? So the large television networks are obviously looking at one unified platform for the traditional linear broadcast as well as the, the new O. T. D digital streaming that they want to do. So what we provide to them is the cloud platform that they can actually use for both traditional linear as well as for new age, O T. D streaming. While for the common owners, it's about providing a full into end solution, including, you know, everything that they need for streaming as well as monetization helping them to sell advertising on the linear channels when they delivered to some of these platforms, like the free ad supported streaming tv platforms. So, very interesting and different needs from what either one of these guys. Mm hmm. 108% year over year growth. It's pretty astonishing. Sri me for your company in terms of sales. Where has the strongest demand come from? The strongest demand has been here. Domestic, primarily for us. It's been 80, close to 80% of our market is in the us about 15% or so in europe and the rest in asia. The biggest growth has been primarily driven by fast the growth of free ad supported streaming tv, you know, platforms like Roku Os and the local channels and the Samsung's and the L. G. S and the Zuma's and the rest of the world as well as you know, growth in overall streaming viewership. We stream more than two billion hours on an annual basis and run a, you know, monetize a few billion ad impressions a month. Well certainly you have a large valuation officially reaching unicorn status valued at more than a billion dollars is an I. P. O. On the horizon. In the 24-36 month timeframe, we do hope to go public. Okay? We'll be watching closely as Sweeney cod, co founder of a Maggie. Sweeney. Thanks again.