Odeeo closes strategic $5M funding round to fuel global expansion
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Co-founders of Odeeo, Amit Monheit, CEO, and Elad Stern, President
Introduction of new investor, Atinum Investment, coincides with opening of US office led by President Elad Stern with senior level hires from Spotify & Pandora
NEW YORK, UNITED STATES, September 4, 2024 /EINPresswire.com/ -- Odeeo1, the leading global in-game audio advertising platform, today announces the close of a strategic funding round of over USD $5M 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 to help supercharge Odeeo’s global expansion.
“Atinum prides itself on unearthing companies with high growth potential. Odeeo has the intrinsic value a VC seeks in its investments. Odeeo has the magic combination of technology, people, traction and scalability and it perfectly complements our portfolio,” said Sang-Ho Park, Managing Director of Atinum Investments.
“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.
This strategic $5M investment is timed to coincide with Odeeo’s expansion in key markets, primarily in North America, where Odeeo is growing its US 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. This news comes hot off the heels of Odeeo’s announced expansion into MENA through a strategic partnership with Evolution Media Group. Odeeo will also partner with Atinum on greater presence in Asian territories including Korea and Vietnam in addition to existing partnerships in Japan.
“In-game audio has become much more mainstream in the past two years, and nowhere is more critical to adoption than the US market. I’m very excited to be moving to New York to open Odeeo’s first full American office and work with the US 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,” said Stern.
About Atinum
Atinum Investment, established in 1988, is a venture capital firm in South Korea with 36 years of experience. It specializes in discovering and investing in Game-Changer companies that redefine the rules and trends of industries. To date, Atinum has invested in about 600 companies, with notable portfolio companies including Kakao Games, Pearl Abyss, Devsisters, JYP Entertainment, among others.
Atinum Investment has been following a "One Fund" investment strategy of concentrating all of its investment capabilities in a single fund. The creation of a larger fund allowed Atinum to make successive investments at each stage of a startup’s growth. Through active follow-on investments, Atinum has served as a priming pump to support growth so that startups can achieve meaningful long-term results.
About Odeeo
Odeeo is building the future of audio advertising. Founded in 2021 by a pair of ad tech veterans, Odeeo is creating solutions for publishers to unlock the fastest-growing segment of marketing spend, while empowering advertisers to reach mobile audiences at scale. Odeeo is based in Tel Aviv with a rapidly growing team across Europe and the US, and is backed by notable investors like Play Ventures and Heracles. Visit http://www.odeeo.io2 to learn more about how audio is revolutionizing in-app advertising.
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1 https://odeeo.io
2 http://www.odeeo.io
