Mux Picks Up $105 Million to Build Upon Its Video Platform

By McKenzie Carpenter Friday, April 30, 2021

The application programming interface (API) based startup company, Mux, announced it has raised $105 million to grow its video and data management platform.

Livestreaming concept for a laptop and a smartphone.

About Mux

Founded in 2015 by four engineers passionate about video technology and performance, Mux is an API-based video streaming tooling and analytics startup company. The business allows developers to build unique on-demand video and live online streams using a Mux API that can be viewed and broadcast pretty much anywhere.

In addition to Mux Video, developers can also use the other facet of the startup company, Mux Data. Mux Data is a business analytics tool that gathers data on a developer’s published video and streams, allowing them to gain information on what needs to be improved for increased engagement and monetization. The tool created by the business monitors four quality of service areas: playback failures, startup time, rebuffering, and video quality.

Encoding, storage, and streaming are all factors when determining pricing for Mux Video. The business has a tool that allows developers to input their own information such as video duration, monthly video downloads, and monthly video view counts. The addition of these services is used to determine pricing. Mux Data offers three plans ranging in cost from $0 per month to nearly $4,000 per month.

Customers of Mux Video range from Robinhood to SoulCycle to VSCO, among several others. Mux Data also features some big client names, including Reddit, PBS, TED, Vimeo, and ViacomCBS.

The founders of the startup company also participated in creating an open source web video player, Video.js; cloud transcoding service, Zencoder; and Demuxed, a conference tool for video engineers.

$1 Billion Valuation

Mux announced in a company press release that the business raised $105 million in a Series D financing round led by Coatue. Such investors as Accel, Andreessen Horowitz, Cobalt, and Dragoneer also participated in the funding round. The new capital brings the total amount raised by the startup company to $175 million. Additionally, Mux is now valued at a more than $1 billion valuation — gaining unicorn status.

According to the company’s statement, in the last year, Mux has experienced a 300% growth of on-demand video streaming and a 3,700% growth of live video streamed by clients. In addition, the business claims it has quadrupled revenue; however, no official figures were disclosed. Furthermore, the Mux team has doubled and now has a total of 80 employees.

With the new capital, the business plans to increase “hiring and delivery of features that enable developers to focus on building innovative video experiences without worrying about the complexity and nuances of the underlying infrastructure powering their streams.”

The video streaming company raised $37 million in a Series C round in August of last year.

Video Streaming Market

Mux’s video and analytics tools are attempting to make video streaming easier for developers as this industry continues to grow. Grand View Research reported the global video streaming market was valued at $50.1 million in 2020 and is projected to grow at a CAGR of 21% from 2021 to 2028.

About the Author

Headshot for author McKenzie Carpenter

McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.

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