AdTonos, which monetises gaming, podcasts, audiobooks, music and radio streams for over 1,000 publishers across the UK, EU, LATAM and the US, has closed a seed funding round of $2m (£1.7m) from BlackSheep Fund and ProtosNext, among other investors. This round of financing is a mid-step for planned Series A by late 2023, in which the company will focus on the US expansion plan. Current company 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 AdTonos CEO and Founder, Michal Marcinik. “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 preseed 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 per cent annual growth rate (CAGR 2022-2027). This means that by 2027, digital audio advertising’s projected market volume will exceed $10.01bn.
AdTonos has developed interactive voice capabilities for audio advertising, enabling listeners to interact in real-time with advertisers through its YoursTruly platform on voice assistant-enabled mobile devices and smart speakers. The company has also developed the Sandstorm SDK to enable the broadcast of audio ads in mobile games without interrupting gameplay.