UK-BASED STARTUP AudioMob SCORES €12.1 MILLION TO SCALE THE GROWTH OF ITS IN-GAME AUDIO ADS BUSINESS
London-based startup AudioMob which focuses on developing in-game audio ads reportedly made clear in its latest publication that it has successfully secured €12.1 million in Series A funding round. However, the latest funding comes after the subject startup threw open its London and Abu Dhabi offices aimed at boosting the expected accelerated growth.
The current funding round was led by Makers Fund and Lightspeed Venture Partners. The same round equally saw the participation of other investors such as Sequoia Capital and the Android giant Google coupled with some music artists, therefore, bringing the company’s total investment to €13.82 million. While the startup’s valuation is currently at €95 million.
Since its launch in 2020 by the founders ‘Christian Facey’ – CEO, and ‘Wilfrid Obeng’ – CTO, it should be known that the subject company has seen recent client successes, such as artists that include Ed Sheeran and Nas in addition to brands like Jeep, Intel, and KitKat, which witnessed relative metric achievements of over 1000% based on findings. Further on this, AudioMob is currently viewed as a company positioned and tech-enabled in all markets outside of China with notable rising stars being the UAE, Canada, and Germany are currently accessing more than 40,000 games via its Audio Ad Platform.
As for the latest development, the founders of the in-game audio advertising company made clear the latest fundraise will be used to expand the startup’s teams in London and Abu Dhabi which will equally see the company develop additional audio technology coupled with other Heads for key departments. However, to ensure the subject startup AudioMob scale as desired, it will continue to file patents in more markets, which will also see the company build the team while opening up opportunities in other potential regions and markets.
In view of this, a source familiar with this development confirmed the company’s CEO ‘Christian Facey’s’ comment: “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 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”.
In the same vein, AudioMob’s CTO ‘Wilfrid Obeng’ 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 monetization does not affect retention. And now we have built products which meet all three needs”.
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