Amagi Acquires Argoid AI to Enhance Streaming Solutions with Advanced AI Capabilities

Amagi acquires Argoid AI to transform streaming with smarter solutions | Digital | Campaign India

Argoid AI's founders -- Gokul Muralidharan, Soundararajan Velu, and Chackaravarthy E -- will join the Amagi team. Amagi, the Bengaluru-based provider of cloud-based SaaS technology for broadcast and connected TV (CTV), has announced the acquisition of Argoid AI, a company specialising in artificial intelligence-driven recommendation engines and programming automation for OTT platforms. This move is expected to enhance Amagi's AI capabilities, aligning with its strategy to empower media companies with intelligent content planning, distribution, and monetisation tools. Argoid AI's solutions offer content recommendations and facilitate real-time programming decisions, which help to increase viewer engagement and optimise operations for streaming platforms. By integrating this technology, Amagi plans to strengthen its product suite, including its Amagi NOW and Cloudport offerings, delivering more personalised and efficient content scheduling solutions. Baskar Subramanian, co-founder and CEO of Amagi, highlighted the importance of AI in reshaping the media and entertainment landscape. "We have been investing in AI/ML over the last couple of years. We strongly believe in AI/ML's pivotal role in transforming the media and entertainment industry, creating efficiencies, enhanced monetisation, and a superlative viewer experience," he said. He further added, "With this acquisition, Amagi will integrate Argoid's AI components into its cloud solutions, significantly enhancing value for our customers. The combined tech expertise of both companies will address key challenges in the streaming industry, such as content discoverability, viewer retention, and intelligent programming." Argoid AI's founders -- Gokul Muralidharan, Soundararajan Velu, and Chackaravarthy E -- will join the Amagi team, bringing their expertise to the company's ongoing development of AI-driven innovations. Muralidharan expressed enthusiasm for the partnership, stating: "This partnership allows us to scale our AI-driven solutions, delivering even greater customer value. Together, we will revolutionise how content is programmed and distributed in the digital era." Amagi's acquisition of Argoid AI marks its latest step in leveraging AI to cater to the growing demand for Free Ad-Supported Streaming TV (FAST) platforms. With a strong client portfolio that includes A+E Networks UK, NBCUniversal, Lionsgate Studio, and DAZN, the company aims to enhance its position in the media-tech sector. This acquisition follows a series of strategic moves by Amagi to strengthen its offerings. In November 2023, the company acquired Tellyo, a UK-based platform for real-time live cloud production and social sharing. In 2022, it purchased Streamwise, a US-based data platform for content distributors. Both acquisitions aligned with Amagi's goal of bolstering its analytics and remote production capabilities. Amagi has seen robust growth, with operating revenue rising to INR 879.15 crore during FY24, up from INR 680 crore in FY23. Despite a 23.7% reduction in losses to INR 245 crore in FY24, the company remains focused on expanding its global footprint. The United States remains Amagi's largest market, accounting for 67.3% of its revenue, or INR 591.5 crore, during the last fiscal year. The United Kingdom contributed 13.1%, with revenue increasing by 31.1% to INR 115.5 crore. However, India accounted for less than 1% of its total revenue, reflecting a 54.3% year-on-year decline to INR 8 crore. Other regions saw significant growth of 78.9%, contributing INR 164.1 crore. Amagi's financial momentum has been bolstered by funding rounds, including a $100 million investment in November 2023 that valued the company at $1.4 billion. Earlier funding efforts in 2022 also established it as a media-tech unicorn, with a valuation exceeding $1 billion. The company's focus on AI-driven innovation and global expansion positions it as a key player in the evolving media and entertainment industry. Its pivot in 2018 from local television advertising solutions to a SaaS-based monetisation platform for TV networks and content owners has proven successful. Amagi's continued growth and strategic acquisitions have fuelled speculation about a potential IPO. While the company has hinted at public listing plans since mid-2022, no concrete timeline has been confirmed.

Amagi acquires Argoid AI to address streaming industry challenges

Amagi, a Bangalore-based unicorn in cloud-based SaaS technology for broadcast and CTV, has acquired Argoid AI. This acquisition aims to integrate Argoid's AI capabilities into Amagi's offerings to enhance content recommendations and programming for OTT platforms. This move is expected to improve content scheduling, viewer engagement, and monetisation solutions for media companies.Amagi, a Bangalore-based unicorn and global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), has acquired Argoid AI, a cutting-edge AI company specialising in recommendation engines and programming automation for OTT platforms. This strategic move reinforces Amagi's mission to empower media companies with intelligent content planning, distribution, and monetisation solutions. Argoid AI is known for its advanced artificial intelligence capabilities, having developed innovative products that enhance content recommendations and enable real-time programming decisions. These solutions have played a crucial role in boosting viewer engagement and optimising channel operations for streaming media customers. By integrating Argoid AI's sophisticated algorithms into its platform, Amagi aims to significantly enhance its product suite, including the Amagi NOW and CLOUDPORT offerings. This integration will enable media companies to scale smarter, faster, and more personalised content scheduling decisions. It will also expand Amagi's capabilities in AI-driven content programming, metadata enrichment, and recommendation engines -- key to advancing the FAST 2.0 innovation in personalised streaming. "Amagi has been investing in AI/ML technologies for several years, recognising their pivotal role in transforming the media and entertainment industry by improving efficiency, monetisation, and viewer experiences," said Baskar Subramanian, Co-founder and CEO of Amagi. "With the acquisition of Argoid AI, we will integrate its AI components into our award-winning cloud solutions, delivering greater value to our customers. The combined expertise of both companies will address major streaming industry challenges, including content discoverability, viewer retention, and intelligent programming." The acquisition also brings Argoid AI's engineers and data scientists into Amagi's fold. Its founders -- Gokul Muralidharan, Soundararajan Velu, and Chackaravarthy E -- will join the Amagi team, playing a critical role in shaping the future roadmap and deepening AI integration into Amagi's offerings. "We are thrilled to join forces with Amagi, a true leader in media technology," said Gokul Muralidharan. "This partnership allows us to scale our AI-driven solutions and deliver even greater value to customers. Together, we aim to revolutionise content programming and distribution in the digital era." Amagi offers a comprehensive suite of channel creation, distribution, and monetisation solutions. Its clients include some of the world's most prominent brands, such as A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.

Amagi Acquires Argoid AI To Bolster AI-Driven Offerings

Founded in 2008, Amagi offers a full stack cloud suite for clients to create, distribute and monetise content globally Media-focussed SaaS unicorn Amagi on Tuesday (December 3) announced the acquisition of California-based AI-driven SaaS startup Argoid AI for an undisclosed sum. In a statement, Amagi said that the acquisition will help it strengthen its content planning, distribution and monetisation offerings. In addition, the deal will also allow Amagi to deepen its AI-powered content programming, metadata enrichment and recommendation engine services. The SaaS unicorn also plans to leverage Argoid AI's advanced algorithms to boost its product suite Amagi NOW and CLOUDPORT. Founded in 2019 by Gokul Muralidharan, Soundararajan Velu and Chackaravarthy E, Argoid helps media businesses provide personalised experiences to their users by offering a real time AI-driven recommendation system for movies and TV shows. Post the acquisition, all the three aforementioned cofounders will join Amagi. "With this acquisition, Amagi will integrate Argoid's AI components into its award-winning cloud solutions, significantly enhancing value for our customers. The combined tech expertise of both companies will address key challenges in the streaming industry," said Amagi's CEO and cofounder Baskar Subramanian. Founded in 2008 by Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi offers a full stack cloud suite for clients to create, distribute and monetise content globally. It also offers broadcast and targeted advertising solutions for broadcast and streaming TV platforms. It claims to support over 800 content brands, 800 playout chains and 5,000 channel deliveries via its platforms in over 150 countries. Amagi has a presence spanning multiple continents, including cities such as New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul and Singapore. On the financial front, Amagi has been on a path to curtail its losses in recent times. In its last disclosed financial report for the fiscal year 2022-23 (FY23), the startup narrowed its losses by 70% to INR 321.2 Cr in FY23 from INR 1,078.5 Cr in the previous fiscal year. Meanwhile, revenue from operations grew 58% to INR 680.6 Cr in the fiscal under review from INR 431 Cr in FY22. The startup entered the unicorn club in March 2022 when it secured an investment of $95 Mn from investors like Accel, Norwest Venture Partners and Avataar Ventures. Later in the year, it picked up additional funding of $79 Mn and $100 Mn, taking its valuation to $1.4 Bn.

Amagi acquires Argoid AI to accelerate AI-driven innovation in the media and entertainment industry

Amagi, a Bangalore based unicorn and the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), announced the acquisition of Argoid AI, a cutting-edge AI company specializing in recommendation engines and programming automation for OTT platforms. This acquisition strengthens Amagi's mission to empower media companies with intelligent content planning, distribution, and monetization solutions. Argoid AI, known for its state-of-the-art artificial intelligence capabilities, has developed innovative AI products that enhance content recommendations and enable real-time programming decisions. Its solutions have been pivotal in increasing viewer engagement and optimizing channel operations for customers in the streaming media space. By integrating Argoid AI's advanced algorithms into Amagi's existing platform, this acquisition will significantly boost the functionality of Amagi's product suite, Amagi NOW and CLOUDPORT offerings, enabling media companies to make faster, smarter, and personalized content scheduling decisions at scale. It will also allow Amagi to deepen its AI-powered content programming, metadata enrichment, and recommendation engine services, which are crucial for transforming to personalized streaming as part of the FAST 2.0 innovation. "Amagi has been investing in AI/ML over the last couple of years. We strongly believe in the AI/MLs pivotal role in transforming the Media and Entertainment industry, creating efficiencies, enhanced monetization, and a superlative viewer experience," said Baskar Subramanian, Co-founder & CEO Amagi."With this acquisition, Amagi will integrate Argoid's AI components into its award-winning cloud solutions, significantly enhancing value for our customers. The combined tech expertise of both companies will address key challenges in the streaming industry, such as content discoverability, viewer retention, and intelligent programming." Acquiring Argoid AI brings advanced AI capabilities, talented engineers, and data scientists to Amagi. Argoid's founders, Gokul Muralidharan, Soundararajan Velu, and Chackaravarthy E, will join the Amagi team, contributing to the future roadmap and further integrating AI into Amagi's offerings. "We are thrilled to join forces with Amagi, a true leader in media technology," said Gokul Muralidharan. "This partnership allows us to scale our AI-driven solutions, delivering even greater customer value. Together, we will revolutionize how content is programmed and distributed in the digital era." Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company's clients include some of the world's biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.