Audioboost, a leader in AI-based digital audio technologies, is proud to announce that Branovate Inc., the holding company owning the international firm Truvid—which operates in the video advertising sector across the USA, Latin America, and the Far East—has acquired a stake in its capital.
Through a Corporate Venture Capital operation, Branovate has invested in Audioboost with an initial share of 20.83%, which will increase to 29.57% upon achieving shared objectives.
This investment aims to support Audioboost’s technological and commercial development in international markets, demonstrating the capability of an Italian tech company to attract international investments while maintaining its headquarters and control within the country.
“We are truly proud to welcome into Audioboost a company from our sector with an international scope and high technological component, which has recognized the value of our technology and has chosen to support us in global development, respecting our autonomy and sharing our vision,” says Cristina Pianura, CEO & founder of Audioboost. “Today marks a new chapter in Audioboost’s life. The coming months will be intense as we aim to scale rapidly and increase business opportunities and revenues in all the markets where we operate and are positioning ourselves. We believe in the growth of Digital Audio Advertising and in a web accessible also thanks to Audio, particularly through our Speakup-Article™.”
Audioboost offers publishers and companies a one-stop Adtech and Pubtech platform that enables the generation of digital audio content through AI, creating new monetization opportunities and full accessibility.
The Italian company closed the 2023 financial year with a profit and plans to reach 8 million euros in the first 36 months following the partnership with Truvid. Audioboost is experiencing strong revenue growth (+60% YoY), partly due to the SaaS sales model linked to new services.
Audioboost and Truvid will continue to operate separately in the global digital landscape, jointly leading the evolution towards the best AI technologies for publishers. The strategic goal of this significant operation for the Italian company is to intensify investments to enhance publishers’ content.
“Truvid’s strategic investment in Audioboost marks a crucial moment in the evolution of digital content. By seamlessly integrating audio functionalities into its existing ecosystem, Truvid is not only enhancing its value proposition but also paving the way for a more inclusive and versatile content landscape. This partnership underscores Truvid’s commitment to innovation and positions the company at the forefront of shaping the future of digital media consumption, driving growth and innovation in the digital publishing ecosystem,” explains Roee Lichtenfeld, CEO of Branovate Inc. and Truvid.