In-game audio ad scale-up AudioMob receives $14m from MakersFund, Lightspeed Venture Partners and Google.
Today AudioMob, the tech company that develops in-game audio ads bridging opportunities between audio and mobile, announces that it has successfully raised $14m for its series A funding.
The funding comes after the company opened its doors to two new offices in London and Abu Dhabi to support the expected accelerated growth in the team.
From kicking off in 2020, founders Christian Facey, CEO, and Wilfrid Obeng, CTO, have seen recent client successes with artists including Ed Sheeran and Nas alongside brands like Intel, Jeep and KitKat who all saw relative metric achievements of more than 1000%.
It’s now positioned and tech-enabled in all countries outside of China with notable rising stars being the UAE, Germany and Canada accessing over 40,000 games through its Audio Ad Platform.
On top of these accomplishments, the founders of the in-game audio advertising company will use the recent funding to expand the team in London and Abu Dhabi and develop more experimental audio technology, alongside other Heads for key departments. The company will continue to file patents in more countries, build out the team and open up opportunities in other regions and markets.
AudioMob is exceeding initial expectations with its exponential growth, client uptake and R&D strides. The business valuation reaches $110 million.
Lead investors MakersFund and Lightspeed Venture Partners. Additional investors include Google which takes total investment to date $16million.
Christian Facey, CEO at AudioMob says “We’re thrilled to see investors' excitement for AudioMob’s vision for long term success and our future. We’re on the precipice of innovating a whole industry with audio and now we’re able to build out our tech and team to ensure we’re disrupting the industry in the right way and ensure we eventually become a future tech industry unicorn.”
Wilfrid Obeng, CTO at AudioMob says “For the past two years we have been focused on listening to our clients, gathering feedback and improving our audio technology and products. We understand that consumers don’t want to be interrupted, advertisers want their ads to be heard and game developers want to ensure monetisation does not affect retention. And now we have built products which meet all three needs.”
Archie Stonehill at Makers Fund says: "Part of Makers Fund’s mission is to bring new industries, companies, and ideas into the interactive entertainment industry and Audiomob is a great example: connecting audio and games sectors whilst generating significant value for both.
This is our first investment into the audio and advertising space and we are confident that Audiomob will transform audio from an afterthought into a new opportunity to improve user experience, not only as a non-interrupting advertising channel in mobile games but in the whole mobile ecosystem."
Paul Murphy at Lightspeed Venture Partners says: “We’re incredibly excited to partner with AudioMob as they aim to both set the standard and become the industry leader for this exciting new ad format.”
Marta Krupinska at Google says: It’s been a delight to watch Christian and Wilfred over the past couple of years, as their business evolves into one of the most exciting, fast growing, innovative ventures in their industry, led by these two extraordinary entrepreneurs.
They’ll go on to achieve great things and I’m confident they’ll keep the door open for others to learn from them and follow.
Some highlights;
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In-game audio ad scale-up receives $14m from Google, Lightspeed Venture Partners and Google
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AudioMob has a current valuation of $110million with predictions of exponential growth
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The tech company has also opened two new offices in London and Abu Dhabi
The key gaming investors have also invested in AudioMob that include:
- Joakim Syndicate ( former founder of Next Games )
- Alexis Bonte ( COO Stillfront )
- Jon Hook ( VP of Publishing at Boombit and CEO of BoomHits)
- Nick-Button Brown Syndicate ( Chairman of Outright Games)
In a recent study conducted by the ad tech company, 75% of consumers prefer to have audio ads within their gaming experiences as opposed to video and banner ads that block gameplay.
With the funding the company aims to expand the team in London and Abu Dhabi and develop more experimental audio technology, alongside other Heads for key departments. The company will continue to file patents in more countries, build out the team and open up opportunities in other regions and markets.
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