Odeeo closes $5M funding round, opens US office
Odeeo closes $5M funding round, opens US office
The Israeli startup’s in-game audio advertising platform enables brands and studios to use audio adverts along with visual elements in a game.
Odeeo, which develops an in-game audio advertising platform, has announced the close of a funding round of over $5 million from both existing and new investors. Atinum Investments, one of Korea’s largest early stage investment funds, joins existing Odeeo investors Play Ventures and Anton Gauffin.
This strategic investment is timed to coincide with Odeeo’s expansion in key markets, primarily in North America, where Odeeo is growing its U.S. team ad operations: Co-Founder and President Elad Stern has relocated from Tel Aviv to New York to join VP Marketing Dan Feldstein, Commercial Lead James Kowan and Agency Sales Lead Kathleen Verdugo.
Odeeo’s technology enables brands and studios to use audio adverts along with visual elements in a game. Audio ads don’t disrupt gameplay, and allow for developers to improve their top-line revenue, all while letting brands reach over a third of the world through one of the fastest-growing channels.
“In-game audio has become much more mainstream in the past two years, and nowhere is more critical to adoption than the U.S. market,” said Stern. “I’m very excited to be moving to New York to open Odeeo’s first full American office and work with the U.S. team to champion in-game audio solutions to the world’s biggest advertisers and agencies, many of whom are already partners of ours. We have tremendous leadership in place in the states, and we anticipate investing even more to educate the market and champion in-game audio in the coming months.”
“We are delighted to welcome Atinum Investments to the Odeeo family, and we’re excited that they share our vision for how the power of audio can evolve the gaming industry. Their expertise in gaming and tech, as well as their strong presence in one of gaming’s largest markets, will be critical to helping Odeeo meet the worldwide demand for our offerings,” said Amit Monheit, Odeeo CEO and Co-Founder.
