Admix, a UK-based In-Play monetization company, announced that it has raised $25 million in a Series B round as it looks to expand its footprint across the Americas and the Asia Pacific (APAC).
The latest raise is the largest secured by any non-intrusive games monetization company and brings Admix’s total funding to $37 million.
Participating in the Series B round are renowned VCs Elefund, Force Over Mass, DIP Capital, Notion Capital, Speedinvest, Rocket Capital, Colopl Next, Sure Valley Ventures, and Sidedoor Ventures, as well as growth investor Kuvi Capital and angels from the gaming industry.
The funding will be used to scale up its In-Play solution worldwide and establish the company as the content monetization layer for the metaverse, said Admix in a statement.
Founded in 2018, Admix pioneered In-Play advertising–an unrivalled solution that bridges the gap between brands, creators, and advertisers using non-intrusive product placements integrated inside video games. Over 300 global games and thousands of advertisers currently use Admix’s end-to-end platform which utilizes drag-and-drop SDKs for game publishers to integrate into their games, a platform for advertisers to access the gaming world, independently verified measurement, and data reporting. The company has recently made key hires in the Americas and APAC where its presence will now be expanded further.
The first phase of Admix’s development has proven its commercial model, which is on track to deliver 1,000 percent year-on-year revenue hypergrowth.
This fresh capital is set to power Admix’s evolution as a set of monetization tools for the new creator economy, and its second critical phase of product development that will set standards in the formative metaverse.
In building the technology and tools to empower creators to make money from their content, Admix will iterate on its state-of-the-art proprietary rendering technology which can digitally inject complex 2D or 3D constructs into any 3D environment, with zero impact on virtual world engine performance.
“This funding round validates the incredible hard work which the entire team has worked so tirelessly to reach. We see the internet entering a new stage: Web 3.0 or the metaverse, characterized by real-time 3D interactions and a new creator economy, spearheaded by the video games industry. We are establishing In-Play as the monetization layer for gaming and the metaverse. While many players in our industry are essentially agencies, Admix is building critical infrastructure for creators to monetize their content in the best way possible,” said Samuel Huber, Co-Founder and Chief Executive Officer at Admix.
Admix Co-Founder and Chief Operating Officer Joe Bachle-Morris also added: “This Series B round–the most significant in our industry by far–comes at a time when household name brands and some of the highest-grossing games ever are joining either end of the Admix ecosystem. Research we released last week demonstrates just how hot an area this is for brands, with 93 percent of media buyers intending to conduct an In-Play campaign within the next few years.”
Admix is experiencing hypergrowth driven by unprecedented inbound and direct sales and has doubled in size to more than 80 staff this year. It has recently signed deals for In-Play campaigns with Calvin Klein, Schuh, Movember, and Sky.
Lucas Stoops, Investment Manager at Force over Mass Capital, commented: “This Series B shows the wider market is waking up to new monetization tools. The investment will allow Admix to continue to innovate with its platform, enabling developers to monetize their games and advertisers to reach a new and growing audience.”