Livewire raises $4.7M AUD in Series A funding round
Livewire, the Australian founded gametech company that develops integrated gaming marketing solutions for advertisers, has today announced it has successfully raised $4.7M AUD in a Series A funding round.
At 16 months old, the company has seen early success, having grown to four live markets, with newly opened offices in Mumbai and Singapore complementing existing locations in London and Australia.
Its exponential growth has resulted in new client wins including Uber Eats on a major research and insights program to inform their gaming strategy, as well as Foxtel Group’s Binge, and Warner Music Australia.
The funding will enable the business to better leverage interest from advertisers and gaming companies globally via accelerated headcount, entry into new markets and further development of proprietary gametech platforms.
The round was led by cornerstone investor RealVC, and includes participation from Perennial Private Ventures, Alua, co-founder of Hills Cider Company Toby Kline, Founding Regional President of EA Asia Pacific, Nigel Sandiford and strategic investors within the gaming ecosystem. The round was oversubscribed, recognising Livewire’s attractive business model and material revenue traction since launch, and sees RealVC’s Managing Partner Matt Berriman join the Board, and Ryan Sohn from Perennial Partners as an investor.
Livewire Co-Founders and Co-CEOs, Brad Manuel and Indy Khabra started Livewire to focus on the whitespace within the gaming marketing and tech ecosystem. Globally, the gaming audience is 3 billion unique users per day, yet Manuel and Khabra had identified most brands were struggling to engage a generation passionate about gaming through authentic channels with a considered, long-term strategy.
The company now works with multinational global advertising agencies and brands to deliver gaming marketing solutions.
Indy Khabra said: “We’re excited for this next phase. Our Series A funding round will enable Livewire to scale up and invest in our gametech products, talent, and our business operations.”
“We’re adding new skills and staff to continue to drive growth within the gaming marketing sector with our unique offering. Sitting horizontal across the entire gaming ecosystem, Livewire provides advertisers a single-entry point to the entire spectrum of gaming marketing possibilities. Our capabilities cover strategy, creative, content and media.”
Khabra added that having a partner like Real VC was always a strategic decision. “Matt Berriman and his team at Real VC, including well known media founder James Rushton from DAZN, have already delivered a material contribution to our business strategy and relationships. We saw them as the perfect partner for our next phase, being Founders themselves who have built substantial businesses and deeply understand our scaling opportunities and challenges.”
Brad Manuel said: “We welcome RealVC. Perennial Partners and our strategic investors to Livewire, enabling us to open new markets and triple our staff by February 2023. Livewire reaches a global gaming audience of 3 billion+ players, who are passionate about video games and have made it a core part of modern-day culture.”
RealVC Managing Partner Matt Berriman said: “We were immediately impressed with the traction that Indy and Brad had achieved in such a short period of time. Gaming audiences are growing materially and yet advertising spend in the sector is still very nascent, so we see the opportunity for substantial growth. The combination of the Livewire team, its technology and a large and growing TAM was irresistible to RealVC.”
Perennial Private Investments Partner Ryan Sohn said: “We were delighted to participate alongside RealVC to join the Livewire team. It’s a perfect fit for our fund as we pursue great Australian founders who have demonstrated real product market fit. Indy and Brad have rapidly established Livewire as a major player in this huge growth category.”
The unique combination of experience wielded by Manuel and Khabra has also secured exclusive partnerships across ANZ and APAC for in-game advertising media, equating to over 55 billion impressions across the Livewire Ad Marketplace. This includes Activision Blizzard Media (Candy Crush), AudioMob, the Top 200 games and experiences within Roblox and the APAC programmatic AAA advertising within Xbox and PlayStation games.
For further information on Livewire, please visit www.livewire.group