Prime Focus Technologies (PFT), the technology subsidiary of Prime Focus, a media services company, secured the first round of funding from Ambit Pragma, a growth capital private equity (PE) fund.
The amount of the deal was not disclosed.
The company intends to use the funds for development efforts of the SaaS products including CLEAR Media ERP and for penetration and growth in strategic markets such as North America and EMEA with increased Sales and Marketing efforts.
PFT’s flagship product CLEAR Media ERP is targeted at M&E companies who increasingly adopt technology to tap the digital consumer landscape while enhancing efficiencies and lowering Total Cost of Ownership (TCO).
Led by Ramki Sankaranarayanan, Founder and CEO, Prime Focus Technologies provides CLEAR, a cloud-based Media ERP suite that virtualizes the content supply chain and builds a connected enterprise for M&E companies. PFT works with more than 300 clients in India and is the technology partner for more than 100 clients globally including various leading broadcasters, studios, brands, sports and digital organizations.
PFT’s CLEAR Media ERP suite and Cloud Media Services have been deployed in global M&E companies such as 21st Century Fox-owned Star India, Novi Digital – Hotstar, Miramax, Disney, Warner Bros., Global Eagle Entertainment, Cricket Australia, CBS Television Studios, 20th Century Fox Television Studios, FX Networks, Crown Media Holdings, Legendary Pictures, Starz Media, Lionsgate, A+E Networks, HBO, Mnet, CNBC Africa, SABC, IFC Films, HOOQ, Sony Music, Voot, Hearst Television, Showtime, BCCI, Indian Premier League and The Associated Press, among others.