London-based creative and ad-tech company A Million Ads has announced the completion of a venture capital funding round of 2.3-million GBP, targeted to product development and a U.S. expansion. GMG Ventures is the lead investor, with Edge Investments contributing about half the amount.
The company’s core mission is to produce what it calls “context-aware” audio ads that can be delivered against listeners’ personal attributes. The platform encourages clients to build numerous versions of its ad creative — the company proposes “millions of versions.” The result is “highly relevant ads, which are delivered real-time, reducing noise for consumers,” according to the announcement. The result might be an ad with an audio bed of rain delivered to a listener via a smart speaker in a location where it’s raining. The company asserts that such context-aware ads perform better.
“The heart of the business is a tech platform that enables audio producers and creatives to design data-driven personalised ads,” founder Steve Dunlop told RAIN News. He sees his company aligned with what he regards as to major trends: audio and personalization.
Current clients include Virgin Atlantic, Audible, BMW, Ebay, and British Airways.
A Million Ads is an audio-focused company, but some of the new funding is targeted to expanding into video creative.