In-game audio ad firm Odeeo secures $5m investment
In-game audio advertising firm Odeeo has received a $5m strategic investment from Atinum Investments as it expands into the US.
To manage the expansion, co-founder and president Elad Stern has relocated from Tel Aviv to join VP marketing Dan Feldstein, commercial lead James Kowan, and agency sales lead Kathleen Verdugo in New York.
Korean investment company Atinum joins existing investors Play Ventures and Anton Gauffin.
Odeeo says it has seen a 260% uptick in its daily active users, and currently boasts over 15m daily active users. Its net revenue has also grown across 2023 by 566%.
“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," said Amit Monheit, Odeeo CEO and co-founder.
"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."
Managing director of Atinum Investments, Sang-Ho Park, added: “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."
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