Adtech startup Admix is announcing that it has raised $7 million in Series A funding.
The London-based company was founded by CEO Samuel Huber (previously owner of an indie gaming studio) and COO Joe Bachle-Morris (who previously worked in the ad agency world). The company is working to bring ads to games, esports, virtual reality and augmented reality.
In-game advertising is already a huge market, but Admix says it's differentiated by focusing on building a product that supports game advertising at scale, where advertisers can bid programmatically through traditional ad-buying platforms, rather than relying on an ad agency model.
For developers, Admix offers an SDK for the Unity and Unreal game engines, allowing them to drag and drop into their games ad formats like billboards, posters and 3D spaces. The startup says it's working with more than 200 developers and is running campaigns from more than 500 advertisers each month, with past advertisers including National Geographic, Uber and State Farm.
“The concept of putting ads in games is obviously not new, but the scalability of our solution is what is revolutionary, delivering instant and consistent revenue to game makers, or streaming platforms," Huber said in a statement. "This coupled with the fact that 1.5B people play games globally every day, means that gaming is becoming a truly mainstream advertising channel.”
Admix previously raised $2.1 million, according to Crunchbase. The Series A was led by U.K.-based Force Over Mass, with the participation from Speedinvest, Sure Valley Ventures and Nigel Morris (a former Dentsu Aegis executive), as well as other angel investors.