Music can create an out-of-world experience transforming the landscape for video gamers. Tech startup AudioMob was created on this principle and allows advertisers to monetize their content through audio ads so gamers can play freely without interruptions.
“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,” Founder Wilfrid Obeng said, according to EU-Startups.com.
AudioMob — founded by Obeng and Christian Facey — has now raised $14 million in a Series A funding round, TechCrunch reports. The round was led by global venture capital firm Makers Fund and multi-stage capital firm Lightspeed Venture Partners. Sequoia Scout Program, Google and more also participated in the round.
“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,” Facey said, according to EU-Startups.com.
To date, TechCrunch reports the company’s investment total is $16 million. In addition, the company’s claiming an estimated valuation of $110 million. The news follows just shortly after the company launched two new locations housed in London and Abu Dhabi to expedite growth, the outlet also reports.
The new funds will be allocated to expand the company team in their new locations and to create more products to enhance their audio technologies and other major components in vital departments. The company plans to pursue more patents in other countries, and hire more team members to bring AudioMob to more markets in other areas of the world.