Odeeo saw 300% YoY revenue growth in 2022 with 10 billion ad opportunities

The in-game audio ad platform’s team grew from 5 to 35 people

Odeeo saw 300% YoY revenue growth in 2022 with 10 billion ad opportunities

In-game audio advertising platform Odeeo saw significant growth in 2022, with a total of one billion ads served and 10 billion ad opportunities created. Its daily active users grew with year-on-year revenue increasing by 300 percent.

Two ad tech veterans from IronSource founded Odeeo relatively recently – in 2021 – with the aims of creating ad solutions for publishers and increasing the reach of advertisers.

Based in Tel Aviv, Odeeo started out with $1 million in seed funding in a round led by Play Ventures.

Growing and scaling

The audio ad platform’s growth was primarily driven by technical innovation and a timely use of the "audio ad space", Odeeo believes. Its SDK platform is currently being used by dozens of publishers in more than 400 games.

Tapnation increased its ARPDAU by eight percent through working with Odeeo, suggesting there is a place for non-intrusive audio ads in gaming.

As well as its big revenue climb in 2022, Odeeo increased the size of its team from 5 people to 35, now spanning three continents and with half the team working on innovations within research and development to take the sector forward.

"2022 was an astounding year for Odeeo, with the value audio ads can deliver for brands and games publishers being proved time and time again," said Odeeo CEO and co-founder Amit Monheit.

"We’ve got some great innovations in the pipeline for 2023 to expand the platform, and are looking forward to strong growth worth shouting about for ourselves, our publishers and advertisers."

In June of last year, Odeeo received a further $9 million in funding from a round led by Play Ventures once again, in addition to media and entertainment group Global. The investment led to an exclusive sales partnership between Global's digital advertising platform and Odeeo.

At the same time, Play Ventures led an investment in Turkish mobile puzzle games developer Cypher Games.

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