Audio analytics company Veritonic has closed a $7.5 million Series A funding round led by Lavrock Ventures, with additional investment from Progress Ventures, Greycroft, Lerer Hippeau and Newark Venture Partners. The company will use the money to hiring more employees and develop its audio insight and measurement capabilities.
Lavrock Ventures’ Daniel Hanks will join the board of directors.
“An increasing number of brands are viewing audio as a must-have marketing vehicle for reaching and resonating with audiences,” said Veritonic Founder and CEO Scott Simonelli. “Our pioneering and independent analytics and measurement platform takes the guesswork out of audio, helping brands invest smarter, optimize their message, and remain top of mind in an increasingly competitive advertising landscape. This investment is testament to our early, potent leadership and innovation in this fast-growing sector.”
“Insightful data and research from the Veritonic platform allow us to make strategic, informed decisions around every element of our sponsors’ audio campaigns which result in them continuously outperforming our expectations,” said Gina Garrubbo, President & CEO, National Public Media.
“As audio advertising growth continues to skyrocket, more brands and agencies are turning to Veritonic to fill the vital gap in media and technology,” said Daniel Hanks, General Partner, Lavrock Ventures. “Veritonic empowers brands with the tools to validate investment, optimize audio assets, and increase ROI. We’re excited to be a part of Veritonic’s continued growth and success.”