- Cloud video infrastructure company Mux announced it raised $20 million in Series B funding led by Evolution Media (an early-stage arm of TPG Growth)
Mux — a cloud video infrastructure company — announced recently that it raised $20 million in Series B funding led by Evolution Media (an early-stage arm of TPG Growth). And Accel, and Y Combinator also joined in the round.
As global video traffic will be 82% of all IP traffic by 2022, up from 75 percent in 2017 according to the Cisco Visual Networking Index. And video has been and will continue to be the number one use of the Internet while consuming a majority of Internet bandwidth. Plus it will continue to be the biggest use of time online and a top use of cloud computing.
Mux is lowering the remaining barriers to entry – that streaming video at scale is still very difficult and building video into applications requires expert-level knowledge.
Mux Video is helping developers work with video through an API-first platform that provides industry-leading encoding and streaming technology, optimized by data and machine learning with just a few lines of code. And this developer-first approach has been used by other successful companies trying to simplify the process of building complex infrastructure, notably Twilio for communications and Stripe for payments.
“Mux’s mission is to democratize video—the world’s most powerful medium. We’ve designed a powerful API to video that empowers developers to build beautiful video experiences into their applications in hours instead of months,” says Mux founder Jon Dahl.
Mux Data is considered a leading video analytics product that monitors billions of video streams for some of the largest video companies in the world including CBS Interactive, PBS, Vimeo, TED, and Udemy. And Mux Data helps engineering and operations teams monitor and improve video streaming performance by measuring the Quality of Experience of every stream including startup time, rebuffering, video quality, and playback failure.
“Developers are leading the charge in selecting technology they want to use and creating new industry standards. Mux’s developer-focused approach to managing the video infrastructure stack is changing the way companies monitor and manage video,” added Gautam Shah of Evolution. “We are thrilled to support the Mux team and leverage our experience in technology and content to help foster Mux’s growing developer community alongside the proliferation of content businesses.”
This round of funding will be used to further solidify Mux’s position as a leader in video technology, including investments in sales and customer success, R&D, and the developer community.
“Working with Mux over the last few years has been a delight. The demand for developer-first video infrastructure is growing even faster than we had anticipated and the team at Mux is executing against the opportunity. We’re excited to increase our investment in the company, and are looking forward to the next few years and beyond,” explained Accel partner Daniel Levine.
Mux was founded by Dahl, Steve Heffernan, Matthew McClure, and Adam Brown. The founders have experience in creating the biggest open-source video player on the web (Video.js), the largest transcoding service in the cloud (Zencoder), and the premier conference for engineers working with video (Demuxed).
Trending on Pulse 2.0
- How Huda Kattan Built A Beauty Brand Worth More Than $1 Billion
- Detroit-Based Huron Capital Names Anthony Pulice As Partner
- Report: Getaround Is Raising Over $200 Million At More Than A $1 Billion Valuation
- GM Names Deborah Wahl As Chief Of Global Marketing
- Farm Management Platform Company Fieldin Raises $12 Million