Mux, a developer-focused video platform, has achieved unicorn status thanks to a $105 million investment.

A little over eight months later, the company has announced a $37 million funding round. Mux is another $105 million.

The Series D was led by Coatue and puts the value of the company at over $1 billion (Mux does not disclose the exact value). Investors who are already in the company, such as Accel, Andreessen Horowitz, and Cobalt, were also involved, as was the company’s new investor, Dragoneer.

Chief Executive Officer and Cofounder Jon Dahl told me that Mux did not require additional funds. After the Series C Mux, management maintained contact with Coatue as well as other investors who had expressed interest in the company, and ultimately they believed that more cash could help boost growth at “this inflection moment in video.”

According to co-founder of A16z Marc Andreessen Dahl, “I think video’s eating software, the same way software was eating the world 10 years ago.”Also, while video was previously something we watched at the computer or on our couches It’s now everywhere, whether browsing the feeds of our favourite social networks or working out using our Pelotons.

“We’re in the midst of a major transition in which video will become a key part of every software project within five or 10 years,” said the expert.

Dahl said that Mux is well-suited to this change because Mux is “a video platform for developers,” using an API-based approach that results in quicker publishing and a more reliable stream for the viewers. Mux’s first product consisted of a monitor and analysis tool known as Mux Data, followed by Mux Video, a streaming video service. Mux Video.

Dahl explained that building a video platform data-first requires heavy data collection, monitoring and analytics. “First, we built the data layer, then we built the streaming platform.”

Robinhood, PBS, Viacom CBS, Equinox Media, and VSCO are among the clients.Dahl stated that although Mux is a digital media company and works with other businesses, “our core market is software.” Dahl said that when Mux was founded in 2015, videos were considered a “niche,” or “something you needed if you were ESPN or Netflix.” Nevertheless, the past couple of years have demonstrated how “video is a fundamental part of how we communicate” and that “every software company should have video as a core part of its products.”

The demand for video streaming increased significantly during the outbreak. Over the course of the year, on-demand streaming through the Mux platform increased by 300%. Meanwhile, live video streaming grew by 3,700 percent, and revenues quadrupled.

“Which is a lot of work,” Dahl explained, laughing. “We definitely spent a lot of the last year ramping and scaling and investing in the platform.”

This funding will enable Mux (which has collected 175 million) to keep investing. Dahl stated that he is planning to expand the team by a factor of 200 to 80 employees and explore possible acquisitions.

“We were impressed by Mux’s laser focus on the developer community, and saw impressive customer retention and expansion indicative of the strong value their solutions provide,” stated Coatue General Partner David Schneider in a statement. “With this financing, Mux can continue building upon their customer-centric platform, and we’re honored to be a partner with Mux as it pave the way for the future of hybrids.”