- In-game advertising startup AudioMob just raised $2 million a seed funding round backed by the likes of Warner Music and Atomico.
- The firm was founded earlier this year by Christian Facey and Wilfrid Obeng, who met while working at Google's London headquarters.
- Speaking to Business Insider, CEO Facey said fundraising during the COVID-19 pandemic had been an 'educational' experience.
- We got an exclusive look at the pitch deck AudioMob used to bring investors on board.
- Visit Business Insider's homepage for more stories.
AudioMob, an in-game advertising startup based in London, just raised $2 million in a seed funding round backed by Warner Music and Atomico.
Founded earlier this year by CEO Christian Facey and CTO Wilfrid Obeng, who met while working at Google, the startup offers advertisers a fully functioning platform to place "non-intrusive" audio ads in mobile games.
There's a huge global market for audio ads with Spotify CEO Daniel Ek citing the industry's $18 billion turnover in the US in an interview with Bloomberg earlier this year.
Speaking to Business Insider, Facey, who also previously worked at Facebook's London office, revealed how fundraising amid a global pandemic had been a "mixed bag". He said: "It's been educational. Half of our clients are advertisers and they were hit really hard."
He added: "But we're in a space where investment deals are still being triggered … It was just a case of figuring out how we were going to keep growing in the context of COVID-19. We've got investors we've never met in person, and that feels kind of normal now."
AudioMob recently commissioned a survey with polling agency YouGov, which found almost a third (28%) of UK adults would prefer a free mobile game with audio ads compared to a free game with video ads (18%).
Business Insider got an exclusive look at the pitch deck AudioMob used to bring investors on board. Check it out below:
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