With participation from Techstars and Ludus Ventures, the ad experience platform Monetizr has raised $4 million in a round of funding led by Change Ventures. Several well-known angel investors participated in the round, including Jared Schrieber, the founder of InfoScout/Numerator, and Ari Paparo, CEO of Marketecture Media and a former executive at Google and Beeswax.
The money will be used by Monetizr, which has already formed collaborations with a number of Fortune 500 firms and top game publishers worldwide, to expand its US sales staff and set up development centers in London, Riga, and Helsinki in Europe.
With more than 3 billion gamers worldwide and succeeding generations turning away from television, advertising expenditures are progressively flowing into gaming. According to projections, the industry for in-game advertising will grow to $32 billion in 2023 and $46 billion by 2027. Data also reveals a diverse demographic, with more than half of mobile gamers being over the age of 35.
Additionally, 43% of smartphone usage is for gaming, which will soon surpass social media. Given the size of the potential market, it may come as a surprise to hear that most brands and marketers still struggle to create scalable ad campaigns, while game producers struggle to make money off of their games. As of right now, in-game advertising primarily consists of background billboards or obtrusive video adverts.
With brands such as Tide, Charmin and Downy, Monetizr is making waves in the $90 billion mobile games ad market
By providing tailored, compelling brand experiences without interfering with gameplay, Monetizr hopes to unleash the advertising potential of mobile games. It helps publishers monetize their games by defining a new class of in-game ad assets and enables brand managers to purchase scalable and affordable advertising across its data-driven consumer engagement platform.
In contrast to background decorations, Monetizr provides businesses with numerous and varied storytelling chances throughout a single session. Backend delivery of the same SDK’s valuable, anonymous consumer behavioral data is crucial in light of the impending implementation of new Apple privacy regulations that will ban the use of cookies and restrict advertisers’ access to consumer in-app data.
We’ve been following Monetizr for a few years and we are delighted to be investing now as we believe it is the last chance to get on board before the company embarks on an explosive growth trajectory. Speaking to Monetizr’s clients, they tell us it is the only ad platform delivering engaging, scalable in-game advertising that gamers don’t hate. We believe Monetizr is the spark that is going to ignite global mobile games advertising.
Andris Berzins, Partner, at lead investor Change Ventures
The platform is compatible with marketing automation programs like Oracle Moat Measurement and is OMSDK-compliant and SOC2 certified. Independent third parties, like Nielsen, may measure Monetizr’s engagement metrics because they are based on IAB-specified formats.
Monetizr will expand its sales teams in North America by hiring additional employees in Atlanta, New York, Chicago, and Philadelphia. This new investment will be put to use in two different areas. The second area of focus will be technical and product development, where Monetizr will make significant recruitment in the development centers in Helsinki, Riga, and London.
What are your thoughts as Monetizr raised $4 million in the funding round? Let us know your opinions in the comments below!
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