Latvian adtech company Monetizr has raised $4 million in a new funding round aimed at ramping up the company’s US sales team as well as fleshing out its European development hubs located in London, Riga, and Helsinki.
The round was led by Change Ventures, with Techstars and Ludus Ventures participating. The round also saw a number of angel investors participating including Ari Paparo, CEO at Marketecture Media and former executive at Google and Beeswax, and Jared Schrieber, Founder of InfoScout/Numerator.
“Instead of providing stagnant and siloed digital ad units, Monetizr integrates brand stories into the actual games, increasing attention engagement ten times that of antiquated digital advertising and creating meaningful connections with consumers,” explained Monetizr CEO Andris Merkulovs. “We are connecting the brand story with the game story. For brands, the opportunity to be part of the game rather than a roadblock is incredibly powerful. We want to help brands tell authentic stories that enhance gamer experiences.”
The company counts clients Procter & Gamble on the brand side of things and Voodoo Games on the publisher side.
On the investment, Change Ventures’ Andris Berzins commented, “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.”