Amagi, a cloud media saas technology firm, acquired Argoid AI, an artificial intelligence company specialising in recommendation engines and programming automation for OTT platforms, as per media reports. This strategic acquisition will enhance Amagi’s product suite, including its Amagi Now and Cloudport offerings, by integrating Argoid AI’s advanced algorithms. The integration will enable media companies to make faster, smarter, and more personalized content scheduling decisions at scale.
As part of the acquisition, Argoid AI’s founders—Gokul Muralidharan, Soundararajan Velu, and Chackaravarthy E—will join Amagi’s team. Argoid’s innovative AI products have been instrumental in boosting viewer engagement and optimizing channel operations for customers in the streaming media space, particularly by enabling real-time content programming decisions.
Amagi, which pivoted in 2018 from providing advertising solutions for local TV businesses to becoming a SaaS-based monetization platform for TV networks and content owners, has gained significant traction in the B2B SaaS sector. The company achieved unicorn status after raising USD 95 million in a funding round led by Accel in March 2022, followed by an additional USD 110 million in November. Reports suggest that Amagi is also in talks to raise USD 250 million in an upcoming round.
Amagi’s revenue from operations saw a significant jump, rising to Rs 879.15 crore in the last fiscal year, up from Rs 680 crore in FY23, as per media reports.
