New Funds for Audio Measurement Platform Veritonic

New York-based audio intelligence platform Veritonic has raised $3.2m in a Series A round of funding, which it will use to bring its approach to audio marketing, and hire new staff with a focus on data science and sales.

Veritonic enables marketers to understand and quantify the best way to use sound in podcasts, streaming radio, and 'sonic branding'. The platform allows measurement of ads on media including podcast, streaming and radio, as well as competitor comparisons. Powered by 'machine listening and learning', the Veritonic platform scores and benchmarks audio assets, guiding clients to make decisions that develop relationships with customers. According to the company, the platform enables marketers and others to make the same kind of data-driven decisions about audio creative as they do about other kinds of creative, including targeting, and where and when to advertise.

As part of the funding round, the firm has launched a new product called Veritonic Competitive Intelligence (VCI), which provides brands with a view of how their competitors are using audio in their marketing strategies, and which initiatives are most effective.

New funding has been led by Greycroft, with participation from Lerer Hippeau and Audible, and from Newark Venture Partners, which led the previous round of funding. Scott Simonelli (pictured), co-founder and CEO of Veritonic, comments: 'We're incredibly excited to invest heavily in our platform and continue to develop innovative ways to help brands understand and quantify the best way to use sound. The injection of this new capital, and the addition of this key, new capability, further cements our platform's standing as the central touchpoint to every important insight about this space - the 'data map' for audio marketing'.

Web site: www.veritonic.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.