Mux has raised $100 million in its Series D funding round.
Mux Video is an API that enables developers to build unique live and on-demand video experiences.
In a blog post, Mux CEO Joh Dahl wrote: “We raised some money! $100M Series D; Coatue, Accel, A16Z; several other great investors, like Cobalt, Dragoneer, and HubSpot Ventures; etc.
This would have come as a bit of a surprise to me not too long ago. If you would have asked me on January 1 if we would raise money this year, I would have said no.
We raised $37M from A16Z last summer, and for a venture-backed startup, we’ve been capital efficient. Maybe to a fault, depending on who you ask. We actually still have our entire Series C in the bank at this point, and our 2020 cash burn was quite low. We grew from 38 to 63 people last year, and still accidentally generated cash in the month of December. (That’s…a major faux pas for a venture-backed startup. 🙄)
So: we grew revenue 4x last year, grew our team significantly, and still have a lot of money in the bank. Why raise money again, you might ask?
The answer is simple. We’re still early, and there is so much opportunity. We’re still in the first or second inning of online video.
(That’s a baseball analogy; for all you non-US readers who think that baseball is weird, it means we’re just getting started.)”