Bidstack has raised £10 million to fund expansion into the United States.
The in-game virtual advertising platform now has more than 80 staff across five international locations and describes the US as a “huge, untapped opportunity”.
It has already run in-game campaigns for brands such as Marriott Bonvoy, Paco Rabanne and Doritos, and works with world-leading game publishers such as Codemasters and Take-Two Interactive.
The strategic investment includes backing from cybersecurity firm Irdeto and brings Bidstack’s total funding to $42m over its seven years of operation.
Irdeto entered the videogames industry with the acquisition of anti-cheat software company Denuvo. The company’s suite of software products are used by a majority of leading console, PC, and mobile titles, creating extensive synergies with Bidstack’s ever-growing developer and publisher network, and breadth of ad formats which now includes rewarded video in addition to in-game and in-menu.
“Irdeto’s positioning across the gaming and entertainment space will lead to many opportunities for our two companies to collaborate going forward, as strategic partners,” said James Draper, founder and CEO at Bidstack.
Globally, the in-game advertising market is projected to grow at a CAGR of 11% to 2030, from its current estimated valuation of $7.6 billion.
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