AudioMob, the company that develops in-game audio ads for mobile just raised $14 million in a series A funding round.
The company recently launched new offices in London and Abu Dhabi to support its global expansion, following the success of supporting artists like Ed Sheehan and Nas alongside brands like Intel, Jeep and KitKat who all saw relative metric achievements of more than 1000%.
A recent study found that 75% of consumers prefer to have audio ads within their gaming experiences as opposed to video and banner ads that block gameplay.
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.”
AudioMob plans to use the funding to expand its team in London and Abu Dhabi and develop more experimental audio technology.
“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,” said Wilfrid Obeng, CTO at AudioMob.
AudioMob is currently valued at $110 million.
Lead investors Makers Fund and Lightspeed Venture Partners. Additional investors include Sequoia Capital and Google which are known for producing unicorns including Snap and Epic Games alongside some music artists which takes total investment to date $16million.