In-game audio ads firm AudioMob has raised a $14 million Series A round led by Makers Fund and Lightspeed Ventures. Sequoia Capital and Google also participated in the round.
AudioMob, now having a post-money valuation of $110 million, was founded in 2020 by Christian Facey and Wilfrid Obeng in 2020. Total money the company raised to date is currently $16 million.
AudioMob plans to use the capital raised to further develop its audio technology, expand its offices in Abu Dhabi and London, and file patents in more countries. The company, which delivers engaging and brand safe audio ads, claims that its clients see up to a 2000% increase in engagement when compared to banner ads.
“We’re thrilled to see investors’ excitement for AudioMob’s vision for long term success and our future,” said AudioMob CEO Christian Facey. “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.”
Paul Murphy , partner at Lightspeed Ventures, 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.”
“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, CTO at AudioMob said.