Live Video Streaming Platform Mux Picks $37 Million In Fresh Financing

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Mux

Mux, the San Francisco-based video streaming platform has announced securing $37 million as part of its Series C financing. Andreessen Horowitz is leading the latest funding round with support from Accel and Cobalt.

Before this round, Mux had raised $20 million in Series B funding last year in August last year which was led by Evolution Media. The current round takes the total amount raised by the firm to $68.9 million. The other backers of the firm include big names like Susa Ventures, Advancit Capital, UpHonest Capital, SV Angle, Pathbreaker Ventures and YCombinator.

Mux was founded in 2015 as an API-first video platform. The firm's tools offer both live and on-demand video for its clients. The platform counts names like SoulCycle, Equinox, Robinhood, VSCO, and Hopin.

Jon Dahl, the CEO and co-founder of the firm talking about the company said “Online video is one of the things that helps the world during a pandemic. Video helps people stay connected, stay fit, and stay sane. Mux is able to power yoga classes, concerts, homeschooling curriculum, breaking news, graduation ceremonies, and more. Online video was already growing quickly before 2020, but now more companies have been forced to reinvent the way they deliver their products, and we’re excited to be at the center of this growth.”

Kristina Shen, the General Partner at Andreessen Horowitz. said that “Mux is the clear leader in the video API space and we’re excited to partner with this ambitious team as they continue to power the highest quality video streaming. We believe video is the future of how we’ll consume and interact with both people and content, and this macro shift of COVID-19 has only accelerated this trend.”

 

Image courtesy: Contentful

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