- Mux — the leading video platform for developers — announced it has closed $37 million in Series C funding
Mux — the leading video platform for developers — announced it has closed $37 million in Series C funding. This round of funding was led by Andreessen Horowitz with participation from Cobalt and Accel.
With this round, Mux will expand product, sales, and marketing teams to help more of the world’s leading companies deliver the best online video streaming experiences.
Mux essentially takes the complexity out of a complicated technical process. And Mux does this by providing an API that allows any sized development team to build high quality live and on-demand video experiences across a wide variety of devices and connections.
The company’s technology is essential as streaming video consumption has skyrocketed over the last 6 months. According to Mux’s research, social media customers saw an increase of 118% in video streaming since mid-February while fitness and health streaming surged by 162%, e-learning grew by 230%, and religious streams jumped nearly 3 orders of magnitude.
Rather than hiring multiple and specialized developers to solve the many hurdles of streaming video, Mux makes it easy for existing teams to host, stream, and optimize the performance of videos. Some of Mux’s customers include SoulCycle, Equinox, Robinhood, VSCO, and Hopin.
Mux enables companies to utilize an easy to use and developer-friendly API to deliver Netflix-quality videos and live streams that are playable for viewers across bandwidth speeds, screen sizes, and device capabilities. And that means that companies that traditionally was not built for streaming can easily build their own unique and enterprise-grade video experience and shift to a streaming business model with ease.
KEY QUOTES:
“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.”
— Mux CEO and Founder Jon Dahl
“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.”
— Kristina Shen, General Partner at Andreessen Horowitz
