Series B Funding Round - Admix

RNS Number : 2791Q

Sure Ventures PLC

26 October 2021

 

Sure Ventures plc ('Sure Ventures' or 'the Company')

Admix raises US$25 million in Series B round

Sure Ventures plc, a London listed venture capital fund which invests in early stage software companies in the rapidly growing technology areas of Augmented reality ('AR'), Virtual reality ('VR'),  Internet of Things ('IoT') and Artificial Intelligence (AI), is pleased to announce a Series B funding round for portfolio company Admix. Sure Ventures PLC owns exposure to Admix via a 25.9% stake in Sure Valley Ventures (ICAV)

Admix has announced that it has successfully raised US$25 million in a Series B round to scale up its In-Play solution worldwide and establish it as the content monetisation layer for gaming worlds and the formative metaverse.

This new funding has been raised at a valuation that represents around 1,500% of the company's valuation at which SVV initially invested in the business in 2018. This clearly reflects the very significant progress that Admix has made to date.

The Series B round is the largest secured by any non-intrusive games monetisation company and brings Admix's total funding to date to US$37 million. SVV participated in the Series B round alongside renowned VCs Elefund, Force Over Mass, DIP Capital, Notion Capital, Speedinvest, Rocket Capital, Colopl Next and Sidedoor Ventures, as well as growth investor Kuvi Capital and angels from the gaming industry.

Founded in 2018, Admix provides a 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. 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% year-on-year revenue growth. This new capital is set to fund Admix's evolution as a set of monetisation 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.

Gareth Burchell, Director of Sure Ventures PLC Commented:

"This is a significant development for Admix and we would like to congratulate the founders and management team for the progress they have made over the last 2/3 years. Digital content consumption and creation has reached an unprecedented level of activity since the global pandemic began and this has accelerated the adoption of the market place the team have built. This funding round, with its impressive participants and size will enable the business to scale even further. The board of Sure Ventures believes it is this type of news that should highlight the quality, the potential and the opportunity that our investors are exposed too"

For further information, please visit www.sureventuresplc.com or contact:

Gareth Burchell	Sure Ventures plc	[phone]

Notes to Editors

Sure Ventures plc listed on the London Stock Exchange in January 2018 giving retail investors access to an asset class that is usually dominated by private venture capital funds.  Sure Ventures is focusing on companies in the UK, Republic of Ireland and other European countries, making seed and series A investments in companies with first rate management teams, products which benefit from market validation with target revenue run rates of at least £400,000 over the next 12 months.  Website: https://www.sureventuresplc.com/

 

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