In-game audio ad tech company AudioMob has successfully raised $14 million in a series A funding round, giving the UK-headquartered firm a valuation of $110 million.
This news comes two weeks after MBW featured AudioMob co-founders Christian Facey (an ex-Facebook exec) and Wilfrid Obeng (an ex-Google exec), speaking about how the firm’s in-game technology was used in the campaign behind Nas’ King’s Disease II album.
Th latest funding round takes the firm’s total investment to date $16 million.
The funding also comes after the company opened two new offices in London and Abu Dhabi to support what it says is “the expected accelerated growth in the team”.
Having launched AudioMob 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%.
The firm says that it is 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.
In addition, the in-game audio advertising company says that it 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 also plans to file patents in more countries, build out the team and open up opportunities in other regions and markets.
Lead investors in the round are Makers Fund and Lightspeed Venture Partners. Additional investors include Google.
“We’re thrilled to see investors’ excitement for AudioMob’s vision for long term success and our future.”
Christian Facey, AudioMob
Christian Facey, CEO at AudioMob said: “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.”
“For the past two years we have been focused on listening to our clients, gathering feedback and improving our audio technology and products.”
Wilfrid Obeng, AudioMob
Wilfrid Obeng, CTO at AudioMob added: “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.”
“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.”
Archie Stonehill, Makers Fund
Archie Stonehill at Makers Fund said: “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.”
“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.”
Paul Murphy, Lightspeed Venture Partners
Paul Murphy at Lightspeed Venture Partners, said: “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.”
“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.”
Marta Krupinska, Google
Marta Krupinska at Google said: 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.Music Business Worldwide