San Francisco-based video technology company, Mux has raised $105 million in a series D funding round which brings the overall funding to $175 million.
This fundraising has raised the valuation of the company to over $1 billion and helped to hook the unicorn status of the company. However, the specific valuation was not uncloaked yet.
The lead investors of this round were Coatue, along with the involvement of existing investors, Accel, Cobalt, Andreessen Horowitz(a16z), and a fresh participant Dragoneer.
About Mux Software Company
Mux Software Company is a video platform which is designed to ease the making of video streaming and analytics, for every development team. Its primary focus remains on the infrastructure of video streaming software and the analytics of video performance.
It was established in 2015 by Jonathan Dahl, Steve Heffernan, Adam Brown, and Mathew McClure. The company’s headquarter is in San Francisco, California and the CEO is Jonathan Dahl.
In a statement, the CEO and Co-founder Jonathan Dahl said that “he thinks that the videos are eating the software now, the same way, software used to eat the world, 10 years ago”, this means that 10 years ago, videos are something that we watch at only on our desks or by lying on our sofas or beds but now, they are almost everywhere, whether we are navigating the feeds of our social media or running on pelotons.
He further said that the world is in its early days of a 5 or 10-year major transition, where the video is working into being the prime portion of every software project and Dahl proclaims that this transition will be well-handled by the Mux by giving the following reasonings-
He said that it’s a video platform for the developers that also has an API-centric approach which helps in reliable streaming and quick publishing for the viewers. Its 1st product, which is Mux data, was a tool for monitoring and analytics and then followed by the Mux video which was the product of streaming video.
Purpose to Raise The Fund
With the fresh capital of series D round funding, Mux contemplates acquiring the meteoric recruitment, to grow the team, which is 80 only to the team of 200, and to continue the delivery of their video centric software platform that enables the developers to build fabulously innovative video experience.
Jonathan Dahl told in an interview with TechCrunch that there was no need to raise the new funding for Mux, but after the series C round funding of last year, the leadership of the company kept in touch with Coatue and other participants who’d shown interest. After that, they finally decided that for faster development during this inflection moment in the video, more money could act as fuel.
And without any surprise, during the pandemic, its demand has raised significantly. The on demand streaming via the platform Mux has grown by 300% during the past year. And also the live video streaming demand inc. by 3,700% and the revenue tripled.
Coatue’s General Partner, David Schneider said in a statement, “They were impressed by the laser focus of Mux on the developer community. They saw impressive customer attention, expansion, and retention which are indicative of the strong value provided by their solutions.”
This funding will help Mux in the continuous building of its customer centric platform. Lastly, he said that they are proud to partner with Mux as the hybrid future way was led by it.
Conclusion
The Mux has raised $105M in a series D round of funding. It aims to acquire aggressive hiring and continue the delivery of its video centric platform for software for video developers. Coatue, the lead investor, announced full support for the video platform Mux, being highly impressed by its work.
FAQs
Ans. Coatue is the lead investor.
Ans. $105M has been raised.
Ans. Jonathan Dahl is the CEO.
Ans. San Francisco is the headquarters of Mux.
Ans. The valuation was over $1B.
