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Video platform startup Mux today announced it raised $37 million, bringing its total raised so far to $69 million. Mux plans to use the proceeds to expand its product, sales, and marketing teams as it gears up for growth in the coming year, a spokesperson told VentureBeat via email.
Video is among the internet’s most popular brand of media. It’s estimated that more clips are uploaded in a month than the major U.S. television networks have created in 30 years. Roughly 87% of online marketers today use video content, and perhaps unsurprisingly, video traffic is projected to constitute 82% of all IP traffic by 2022 (up from 75% in 2017). Growth has accelerated thanks to the pandemic — according to Mux, social media customers saw an increase of 118% in streaming since mid-February; fitness and health streaming surged by 162%; education grew by 230%; and religious streams jumped nearly 3 orders of magnitude.
Mux, a Y Combinator graduate headquartered in San Francisco, was cofounded in 2015 by Adam Brown, Jon Dahl, Matt McClure, and Steve Heffernan. Its platform comprises a quality of service component that measures viewers’ video-watching experiences and an API for streaming that uses per-title encoding. Basically, customers post the URL of video files using the Mux API, at which point Mux ingests the file and creates an asset to prepare it for streaming. Leveraging the playback ID, Mux tailors videos to devices and bandwidth ranges through virtually any video player (or through Mux’s own open source Video.js framework) while generating metadata like thumbnails and frame-by-frame storyboards.
Mux’s analytics offering, Mux Data, spotlights live and historical metrics like playback and encoding failures and video quality. It alerts admins when something is amiss and records playback down to the user level, with filters and dimensions for more granular tracking and a collated view that summarizes day-to-day and week-to-week performance.
For optimization work that’s more forward-looking, Mux’s A/B testing and benchmarking features enable content managers to pick players, content delivery networks, and ad servers that perform best for specific form factors. A built-in impact sorting tool lets them quickly spot problematic browsers, devices, regions, CDNs, players, ads, and videos, while a live streaming dashboard keeps them abreast of top titles by concurrent viewer, rebuffering by time watched, video startup time, and more.
Mux says it currently supports billions of streams and millions of viewers for customers like SoulCycle, Equinox, Robinhood, VSCO, and Hopin. The company recently announced a bug bounty program, added support for subtitles and closed captions, and introduced an audio normalization feature that automatically adjusts too-loud or too-quiet audio. It also rolled out Delivery Usage API, which breaks down delivered minutes by each asset.
Andreessen Horowitz led the latest funding round in Mux, with participation from Cobalt and Accel.
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