England-based AudioMob enables game developers to monetize their games with ads that don’t interrupt gameplay and raised USD 14 million on 9th November.
Investors: Leading the Series A round is the Makers Fund and Lightspeed Venture Partners. Other investors include Sequoia Capital and Google. A total of USD 16 million has now been invested.
Purpose of funding: Using the new funding, the company will expand its team in Abu Dhabi and London and develop more experimental audio technology. In addition to filing patents in more countries, building out the team and finding new markets, the company will continue to expand. Moreover, the company will hire department heads to oversee various departments.
Founded in 2020 by Christian Facey and Wilfrid Obeng, AudioMob is located in London, England. AudioMob offers an in-game audio advertising solution that is non-intrusive and can enhance player retention, improve ratings, as well as boost conversions for games. It chose the Gaming industry because it is the fastest-growing entertainment sector, and audio products are experiencing an increase in popularity among consumers worldwide.
What the founders have to say
“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,” – Christian Facey, co-founder and CEO at AudioMob.
“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,” – Wilfrid Obeng, co-founder and CTO at AudioMob.
What the investors have to say
“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,” – Archie Stonehill from Makers Fund.
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