AdTonos has today announced that it has closed a seed funding round of $2 million, which is slightly more than the company’s monthly sales, from BlackSheep Fund and ProtosNext, among other investors.
AdTonos seed funding
This round of financing is a mid-step for planned Series A by late 2023, in which the company will rise to focus on the US expansion plan.
The company, which successfully monetises gaming, podcasts, audiobooks, music and radio streams for over 1000 recognised publishers across the UK, EU, LATAM and the US, said current plans include further development of its platform including new products for podcast and mobile games monetisation.
This is to be followed by a better presence in existing markets, and expansion into new geographic markets, including the US and more countries within the EU and APAC.
“The future of digital audio advertising is now,” said Michal Marcinik, CEO & Founder of AdTonos.
“I am happy to welcome our new investors to such a successful business. I am very satisfied that they join the company that, thanks to the efforts of the entire team, achieved such tremendous growth organically as our pre-seed funding was spent years ago already.
“Thanks to our new investors’ brilliant network in Europe and the US, I am convinced that our experience in the advertising industry, combined with the qualifications of our team, will enable us to maintain our ambitious growth plan and repeat its success of 10x annual growth in the following years.”
According to Statista,digital audio ad spending is set to reach $6.78bn and an 8.09% annual growth rate (CAGR 2022-2027). This means that by 2027, digital audio advertising’s projected market volume will exceed $10.01bn.
This shows how much development potential the digital audio ads market has and that AdTonos with its range of products has a chance to gain a significant share of these revenues.
“Mixing high competencies, new audio inventory enablement and innovative audio-focused solutions are what makes AdTonos unique”, said Giovanni Strocchi, Co-Founder & Senior Venture Partner, BlackSheep Fund.
“We are very proud to support AdTonos’ great team of Industry experts in their ambitious growth plan. Stay tuned for the next steps!”
Paweł Sikorski, Partner at ProtosNext, said: “AdTonos is an innovative, well-designed solution for the promising market of digital audio advertising”.
“Unique product and huge market potential combined with a motivated team that effectively implements their visions into reality is a perfect match.
We are happy to support the team on its business journey and hope to achieve great results together.”
AdTonos has already developed interactive voice capabilities for audio advertising, allowing listeners to interact in real-time with advertisers through YoursTruly on voice Assistant-enabled mobile devices and smart speakers.
This highlights the vast potential of AdTonos’ technology to reach a global audience. Another essential product in the ad tech portfolio is Twilight, AdTonos’ technology solution for broadcasting and targeting ads in podcasts.
To enable the broadcast of audio ads in mobile games, AdTonos developed Sandstorm SDK, offering mobile gaming publishers an unparalleled user experience of not interrupting gameplay.
This article featured in Mediashotz.