{"id":24133,"date":"2021-05-02T05:31:52","date_gmt":"2021-05-02T05:31:52","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/developer-focused-video-platform-mux-achieves-unicorn-status-with-105m-funding.html"},"modified":"2021-05-02T05:31:52","modified_gmt":"2021-05-02T05:31:52","slug":"developer-focused-video-platform-mux-achieves-unicorn-status-with-105m-funding","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/developer-focused-video-platform-mux-achieves-unicorn-status-with-105m-funding.html","title":{"rendered":"Developer-focused video platform Mux achieves unicorn status with $105M funding"},"content":{"rendered":"

Barely more than eight months after announcing a $37 million funding round<\/a>, Mux<\/a> has another $105 million.<\/p>\n

The Series D was led by Coatue and values the company at more than $1 billion (Mux isn\u2019t disclosing the specific valuation). Existing investors Accel, Andreessen Horowitz and Cobalt also participated, as did new investor Dragoneer.<\/p>\n

Co-founder and CEO Jon Dahl told me that Mux didn\u2019t need to raise more funding. But after last year\u2019s Series C, the company\u2019s leadership kept in touch with Coatue and other investors who\u2019d expressed interest, and they ultimately decided that more money could help fuel faster growth during \u201cthis inflection moment in video.\u201d<\/p>\n

Building on the thesis popularized by a16z co-founder Marc Andreessen, Dahl said, \u201cI think video\u2019s eating software, the same way software was eating the world 10 years ago.\u201d In other words, where video was once something we watched at our desks and on our sofas, it\u2019s now everywhere, whether we\u2019re scrolling through our social media feeds or exercising on our Pelotons.<\/p>\n

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Mux raises $37M Series C as its API-based video streaming service scales<\/a><\/p>\n<\/blockquote>\n

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\u201cWe\u2019re at the early days of a five- or 10-year major transition, where video is moving into being a first-class part of every software project,\u201d he said.<\/p>\n

Dahl argued that Mux is well-suited for this transition because it\u2019s \u201ca video platform for developers,\u201d with an API-centric approach that results in faster publishing and reliable streaming for viewers. Its first product was a monitoring and analytics tool called Mux Data, followed by its streaming video product Mux Video.<\/p>\n

\u201cIf you\u2019re going to build a video platform and do it data-first, you need heavy data and monitoring and analytics,\u201d Dahl explained. \u201cWe built the data layer [and then] we built the streaming platform.\u201d<\/p>\n

Customers include Robinhood, PBS, ViacomCBS, Equinox Media and VSCO \u2014 Dahl said that while Mux works with digital media companies, \u201cour core market is software.\u201d He suggested that back when the company was founded in 2015, video was largely seen as a \u201cniche,\u201d or \u201csomething you needed if you were ESPN or Netflix.\u201d But the last few years have illustrated that \u201cvideo is a fundamental part of how we communicate\u201d and that \u201cevery software company should have video as a core part of its products.\u201d<\/p>\n

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Mux founders Adam Brown, Steven Heffernan, Matt McClure and Jon Dahl. Image Credits:<\/strong> Mux<\/p>\n

Not surprisingly, demand increased dramatically during the pandemic. During the past year, on-demand streaming via the Mux platform grew by 300%, while live video streaming grew 3,700% and revenue quadrupled.<\/p>\n

\u201cWhich is a lot of work,\u201d Dahl said with a laugh. \u201cWe definitely spent a lot of the last year ramping and scaling and investing in the platform.\u201d<\/p>\n

This new funding will allow Mux (which has now raised a total of $175 million) to continue that investment. Dahl said he plans to grow the team from 80 to 200 employees and to explore potential acquisitions.<\/p>\n

\u201cWe were impressed by Mux\u2019s laser focus on the developer community, and saw impressive customer retention and expansion indicative of the strong value their solutions provide,\u201d said Coatue General Partner David Schneider in a statement. \u201cThis funding will enable Mux to continue to build on their customer-centric platform and we are proud to partner with Mux as it leads the way to this hybrid future.\u201d<\/p>\n

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10 VCs say interactivity, regulation and independent creators will reshape digital media in 2021<\/a><\/p>\n<\/blockquote>\n

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Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/K9YUceCrp6c\/<\/p>","protected":false},"excerpt":{"rendered":"

Barely more than eight months after announcing a $37 million funding round, Mux has another $105 million. The Series D was led by Coatue and values the company at more <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-24133","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t