Pires Investments plc has provided an update on its investment in Sure Valley Ventures (SVV) in relation to Admix, a company within the SVV portfolio, which has developed a programmatic monetisation platform for gaming and other entertainment developers.
Two years after its initial seed funding, London-based start up Admix has extended the Series A funding round announced in June 2020, raising a further $1.5 million from strategic gaming investors, bringing the total round to $8.5 million.
Marcus Segal, former COO of Zynga Studios and Nigel Morris, former CEO of Dentsu Aegis, joined the round, alongside a number of unnamed executives working in the gaming and advertising industries in which Admix operates.
Pires has a circa 13% interest in SVV. SVV is a venture capital fund focused on investing in the software technology sector with a specific focus on artificial intelligence, the internet of things and immersive technologies.
“Only two years after its initial seed funding, this extension of the funding round announced earlier this summer demonstrates the excitement surrounding Admix’s platform for gaming and entertainment developers at the moment. In-play advertising, a substantial and developed market, has seen considerable growth as a result of the COVID-19 pandemic and we expect this trend to continue in the coming years,” Peter Redmond, Chairman of Pires, said.
“We believe that Admix’s novel approach to game advertising at scale positions the company perfectly to benefit from the increased demand in this market. The additional funding and the inclusion of notable industry figures participating in this extended fundraise will no doubt allow Admix to continue its rapid growth path and, as such, we look forward to updating the market with Admix’s progress in due course,” Peter Redmond added.