In-game audio advertising platform Odeeo has raised $1 million in seed funding.
As reported by VentureBeat, the funding round was led by Play Ventures and included angel investors such as Eric Seufert (Memo Syndicate) and Michail Katkoff (Savage Game Studios).
Based in Tel-Aviv, Odeeo was founded earlier this year by Amit Monheit and Elad Stern who both previously worked together at mobile monetisation platform IronSource.
Monheit operates as Odeeo whereas Stern is the chief product officer.
Odeeo’s in-game audio advertisements are a form of non-invasive advertising that provide personalised audio messages from advertisers in-game. Other forms of audio-based media, such as podcasts, use similar advertising strategies.
"We’ve seen firsthand the super-scale of mobile gaming with in-game advertising," said Odeeo co-founder and CEO Amit Monheit (via VentureBeat).
"We started researching the area and whether any new innovation could happen in the space of in-game advertising."
"We’ve tried to connect two industries that aren’t really related, gaming and audio advertising which, with radio ads, is a $30 billion industry. [What] we understood was that audio has one major benefit over the other or the existing ad formats. It accompanies the gameplay rather than disrupting the gameplay or pausing the game experience."
Speaking at Pocket Gamer Connects Digital #7, Admix partner manager Natalia Pakhomova discussed the benefits of non-invasive advertisements, such as being user friendly and a good source of income for developers.