Audioburst Gets $10 Million Investment In Partnerships With Dentsu, Hyundai

Investment

AUDIOBURST's voice-search technology platform has drawn $10 million in additional investment from agency DENTSU INC. and car manufacturer HYUNDAI MOTOR COMPANY.  The new funding is tied to AUDIOBURST's plans to build advertising and in-car voice-based platforms in partnership with the new investors.  AUDIOBURST's technology, which allows for talk content to be indexed into searchable voice "bursts," will also be made available in the Japanese market by the end of the year with  Japanese language capabilities.

“The investments signal an industry acknowledgment for consumer demand of voice-based experiences, and AUDIOBURST’s unmatched ability to deliver that technology,” said AUDIOBURST Co-Founder/CEO AMIR HIRSH. “It also provides us the ability to expand and expedite our technology offering, and tap into a larger ecosystem of investors and partners in the car, media, advertising and technology spaces.”

“Personalized advertising in the radio space has been limited to-date. In addition, the emergence of voice-activated services and audio content have provided a rapidly growing advertising opportunity for our clients,” said DENTSU Innovation Initiative Managing Director HIDEKI ISHIBASHI. “Partnering with AUDIOBURST allows us to offer our global clients a solution backed by millions of pieces of content and user metadata, and a powerful understanding of listeners’ interests.”

“At HYUNDAI, our mission is to have our cars connected by 2020 and provide our customers with the best possible in-car experience,” said HYUNDAI VP Dr. YUN-SEONG HWANG. “Partnering and investing in AUDIOBURST ensures we will lead the charge in a data-driven first class audio experience.”

The new investments bring the company's current funding to $25 million.

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