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- Mux
Mux Revenue, Valuation, Funding & Investors
Mux is valued at $1B as of May 2021, a 31.3x multiple on its last reported $32M revenue.
Last Mux valuation
$1B
Series D · May 2021
Last Mux funding round
$105M
Series D · May 2021
Mux revenue
$32M
Series D · May 2021
Key investors in Mux
Accel
Y Combinator
Andreessen Horowitz
Susa Ventures
Cobalt Capital
Bossa Invest
About Mux
Mux is a video infrastructure provider offering APIs for hosting, encoding, streaming, and analytics. Mux Data monitors billions of streams for metrics like rebuffering and startup time, serving Vimeo, Robinhood, CBS Interactive, Discovery, PBS, and TED. Mux Video handles live and VOD playback across devices. Headquartered in San Francisco since 2015.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Revenue
$32M (May 2021)
Valuation
$1B (May 2021)
Mux Valuation
Mux is currently valued at $1B, based on its Series D in May 2021.
The $105M round was led by Coatue, with participation from Dragoneer, HubSpot Ventures, Andreessen Horowitz, Cobalt Capital, Accel and 1 other investor.
Mux's valuation has grown 12x from $85M at its Series B in August 2019 to $1B in May 2021, across 2 priced rounds.
Mux valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2021 | Series D | $1B | 31.3x |
| Aug 2019 | Series B | $85M | 2.7x |
Mux Revenue
Mux's latest recorded revenue is $32M, as of its Series D in May 2021. At a $1B valuation, that implies a 31.3x revenue multiple.
Revenue moved from $32M in August 2019 to $32M in May 2021, while the revenue multiple moved from 2.7x to 31.3x.
Mux revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2021 | $32M | $1B | 31.3x | Series D |
| Aug 2019 | $32M | $85M | 2.7x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Mux Funding History
Mux has raised a total of $174M across 6 funding rounds.
Mux's first fundraising round was a $100K pre-seed round in March 2016. The most recent completed round was a $105M Series D in May 2021.
Mux funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2021 | Series D | Coatue (lead); Dragoneer; HubSpot Ventures; Andreessen Horowitz; Cobalt Capital; Accel; Kamerra | $105M | $1B | Mux is a San Francisco-based video infrastructure platform founded in 2015 by Jon Dahl and Adam Brown, providing APIs for video streaming, encoding, delivery, and analytics via products like Mux Data. It enables developers to integrate video features into applications across devices, serving customers such as Substack, HubSpot, Vimeo, and Paramount. The company achieved unicorn status with a $105 million Series D funding round in late April or early May 2021, led by Coatue, with participation from Accel, Andreessen Horowitz, Cobalt Capital, and new investor Dragoneer Investment Group; total funding reached $175 million post-round. The round valued Mux at over $1 billion post-money, supporting accelerated hiring to grow from 80 to 200 employees, new feature development, platform scaling, and potential acquisitions. Proceeds aimed to capitalize on surging video demand during the pandemic, where on-demand streaming grew 300%, live streaming 3,700%, and revenue quadrupled in the prior year. Investors highlighted Mux's developer focus, customer retention, and expansion in a shifting video landscape blending on-demand and interactive live experiences. This Series D followed a $37 million Series C in August 2020 led by Andreessen Horowitz, a $20 million Series B in 2019 led by Evolution Media (CAA/TPG), and a $9 million Series A in 2017 led by Accel. |
| Jul 2020 | Series C | Andreessen Horowitz (lead); Worklife Ventures; Cobalt Capital; Accel; Bossa Invest | $37M | - | Mux is a video streaming and analytics platform providing infrastructure for developers to build video experiences, including Mux Video for on-demand and live streaming and Mux Data for performance monitoring. By 2016, it served customers like PBS and Funny or Die with 10 employees. It grew to 30 paying Mux Data customers by 2018 and launched Mux Video that year. In 2020, coinciding with its Series C round led by Andreessen Horowitz with participation from Accel, Bossa Invest, Cobalt Capital, and Worklife, Mux achieved $8 million in revenue. Post-2020, Mux demonstrated hypergrowth, reaching $32.1 million in revenue in 2021 (400% YoY increase), with on-demand streaming up 300% and live streaming up 37x. By August 2023, it handled a record livestream with 30 million concurrent viewers and generated $30.8 million in revenue that year. Overall, Mux has raised $173.9 million in total funding as of June 2025. It later secured a $105 million Series D in May 2021 at over $1 billion valuation, led by Coatue, with repeat investors like Accel, Andreessen Horowitz, and Cobalt, plus new ones including Dragoneer and HubSpot Ventures. Mux operates in the competitive video infrastructure market, focusing on developer tools amid rising demand for streaming from platforms like TikTok. |
| Aug 2019 | Series B | Evolution Media (lead); Y Combinator; Mango Capital; Accel | $20M | $85M | Mux is a San Francisco-based cloud video infrastructure company that provides APIs for developers to build video features, including streaming, encoding, delivery, performance monitoring, and analytics via products like Mux Data. Founded in 2015 by Jon Dahl and Adam Brown, it targets developers creating video experiences for platforms like Substack, HubSpot, and Vimeo. On August 14, 2019, Mux raised $20 million in a Series B funding round led by Evolution Media (early-stage arm of TPG Growth investing in technology, digital media, and consumer companies), with participation from Accel and Y Combinator. The round had a post-money valuation of $85.09 million, as reported for that specific date. Funds were allocated to investments in sales and customer success, R&D, and the developer community to solidify its leadership in video technology and foster its growing developer base amid rising demand for developer-first video infrastructure. This followed a $9 million Series A in 2017 led by Accel with Y Combinator and others. Subsequent rounds included a $37 million Series C in August 2020 led by Andreessen Horowitz with Accel and Cobalt Capital, and a $105 million Series D in June 2021 led by Coatue Management, valuing Mux at over $1 billion (unicorn status) with participants including Accel, Andreessen Horowitz, Cobalt Capital, and Dragoneer. Total funding reached approximately $175 million by Series D. Mux's platform enables video streaming across devices and offers data analysis for streaming platforms, with recent expansions into AI-powered workflows like moderation, summaries, and captions via an AI SDK, integration with Vercel's Workflow DevKit, and leadership in Video.js v10 development. A customer case highlighted Sendr using Mux to reduce video costs by 90% and scale to 3,500 users quickly. The company has grown to 150+ employees, with offices in San Francisco and London. |
| Apr 2017 | Series A | Accel (lead); Susa Ventures; Four Cities Capital; Advancit Capital | $9M | - | Mux raised a $9 million Series A funding round on April 18, 2017, led by Accel with participation from Advancit Capital, Four Cities Capital, Susa Ventures, Y Combinator, SV Angel, Lowercase Capital, Liquid 2 Ventures, Pathbreaker Ventures, and angels James Lindenbaum and Ilya Sukhar. This brought total funding to $12 million including the prior seed round. Accel's Dan Levine joined the board. Mux provides APIs for developers to build and analyze video streaming experiences across devices, with products like Mux Data for performance analytics. Customers including Wistia, Livestream, and IGN used it to improve video streaming. The company aimed to expand video performance features and tools for publishers. Founded in 2015, Mux addressed developer needs in video infrastructure amid growing online video demand. |
| Aug 2016 | Seed | Susa Ventures (lead) | $3M | - | Mux raised a $9 million Series A round on August 31, 2016, from Accel, Advancit Capital, and Susa Ventures. Mux is a San Francisco-based software company that designs APIs for developers to create videos. |
| Mar 2016 | Pre-seed | Y Combinator (lead); CSC Upshot; SV Angel; Liquid 2 Ventures | $100K | - | - |
Who has invested in Mux?
18 investors have backed Mux across its funding rounds, including Accel, Y Combinator, Andreessen Horowitz, Susa Ventures, Cobalt Capital and Bossa Invest.
Lead investors include Coatue, Andreessen Horowitz, Evolution Media, Accel, Susa Ventures and 1 other investor.
Mux Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Apr 2017 | ||
| 2 | Lead | Aug 2016 | ||
| 2 | Lead | Mar 2016 | ||
| 2 | Lead | Jul 2020 | ||
| 2 | Participant | Jul 2020 | ||
| 1 | Participant | May 2021 | ||
| 1 | Participant | Mar 2016 | ||
| 1 | Participant | Mar 2016 | ||
| 1 | Participant | Mar 2016 | ||
| 1 | Participant | Jul 2020 | ||
| 1 | Participant | May 2021 | ||
| 1 | Participant | Apr 2017 | ||
| 1 | Participant | Apr 2017 | ||
This data is available for Pro users. Sign up to see all 18 Mux investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Mux
Mux has acquired 1 company to date.
Last acquisition by Mux was on December 22nd 2021. Mux acquired Stream Club for undisclosed valuation.
Latest Acquisitions by Mux
| Description | Stream Club enables creation of studio-quality live streams through drag-and-drop interfaces and developer APIs. San Francisco-based, the platform supplies customizable SDKs for embedding broadcasts in apps alongside cloud-hosted production tools for events, gaming, and corporate communications. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 22 Dec 2021 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Mux acquisitions and their M&A valuation multiples. Start Free Trial | |
Mux Competitors
Mux competitors include listed companies like Safie and Amdocs, and private ones like LiveKit, Quantum Metric, LeCloud and OpenSpace.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $10M | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $923M | - | ||
| Private | - | - | $913M | - | ||
| Publicly listed | $122M | $2M | $250M | 1.5x | ||
| Publicly listed | $4.5B | $922M | $6.3B | 1.5x |
Mux Public Comps
Mux is still privately-owned, but its public comps include Sumavision, Beijing Join-Cheer, Pexip, Harmonic, Clarivate, Red Violet, WingArc1st, Similarweb, Cognyte Software and Plus Alpha Consulting.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $109M | $11M | 6.4x | - | 62.7x | - | |||
| $386M | $11M | 1.9x | - | 68.9x | - | |||
| $118M | $29M | 6.6x | 5.7x | 26.6x | 18.6x | |||
| $361M | $24M | 3.0x | 2.3x | 46.2x | 11.9x | |||
| $2.5B | $829M | 2.1x | 2.2x | 6.3x | 5.3x | |||
| $90M | $24M | 13.2x | 11.7x | 50.0x | 31.7x | |||
| $199M | $70M | 3.5x | 3.3x | 10.0x | 10.5x | |||
| $283M | ($15M) | 2.5x | 2.3x | (48.6x) | 26.2x | |||
This data is available for Pro users. Sign up to see all Mux competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Mux
| When was Mux founded? | Mux was founded in 2015. |
| Where is Mux headquartered? | Mux is headquartered in San Francisco, CA, United States. |
| Is Mux publicly listed? | No, Mux is a private, VC-backed company. |
| What is Mux's valuation? | Mux was last valued at $1B in its Series D in May 2021. |
| How much funding has Mux raised? | Mux has raised $174M across 6 funding rounds. |
| What was Mux's last funding round? | Mux's last funding round was a $105M Series D in May 2021, led by Coatue. |
| Who are Mux's investors? | Mux's investors include Accel, Susa Ventures, Y Combinator, Andreessen Horowitz, Cobalt Capital, Dragoneer, CSC Upshot, SV Angel, Liquid 2 Ventures, Worklife Ventures and 8 others. |
| What is Mux's revenue? | Mux's latest recorded revenue is $32M (May 2021). |
| What is Mux's revenue multiple? | Mux's latest valuation implies a 31.3x revenue multiple ($1B valuation on $32M of revenue). |
| Which companies are comparable to Mux? | Companies comparable to Mux include LiveKit, Quantum Metric, LeCloud, OpenSpace, Safie and Amdocs. |
| How many companies has Mux acquired? | Mux has acquired 1 company, including Stream Club. |
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