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Mux raises $20MM in Series B funding to democratize video

/EIN News/ -- SAN FRANCISCO, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Mux, a San Francisco-based cloud video infrastructure company, has raised $20 million in Series B funding from Evolution Media, Accel, and Y Combinator. The financing was led by Evolution Media, the early-stage arm of TPG Growth that invests in technology, digital media, and consumer companies.

Global video traffic will be 82 percent of all IP traffic by 2022, up from 75 percent in 2017, according to the Cisco Visual Networking Index. Video has been, and will continue to be, the number one use of the internet: a majority of internet bandwidth, the biggest use of time online, and a top use of cloud computing. Mux exists to lower the remaining barriers to entry - that streaming video at scale is still very difficult and building video into applications requires expert-level knowledge.

The People Want Video, But Building Video Is A Pain
Mux Video helps 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. 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 CEO Jon Dahl.

Mux Data is 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. 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,” said Gautam Shah, who led the investment for 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.”

"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," said Dan Levine, partner at Accel.

This funding round will be used to further solidify Mux’s position as a leader in video technology, including investments in sales & customer success, R&D, and the developer community.

About Mux
Mux is a software company that develops infrastructure and monitoring tools for developers and publishers of online video. Founded in 2015 by experts in online video, including the creators of 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), Mux empowers publishers of all sizes to provide high-quality online video viewer experiences. Backed by investment from Accel Partners, Evolution Media, SV Angel, and Y Combinator, Mux is headquartered in San Francisco, CA. For more information visit www.mux.com or follow @MuxHQ.

About Evolution Media

Evolution Media is a multi-stage investment firm that partners with passionate entrepreneurs who are building the next generation of technology, content, lifestyle, digital media, and sports businesses. Evolution leverages its global platform and relationships to accelerate the growth of its portfolio companies while helping them reshape and disrupt their industries.

Media Contact:
Kat Reed
Kat@CodewordAgency.com
(415) 890-3806

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