Audigent, a first-party data management platform and “data agency” for entertainment, sports and lifestyle verticalsm, has completed a $6.7 million Series A financing round, the company announced Wednesday. The investment brings Audigent’s total funding to $14.5 million since its 2015 launch.
The Series A round was led by Raised in Space — a joint venture between Scooter Braun’s Ithaca Holdings and Ripple’s Xpring — with additional participation from both existing and new investors including Galaxy Digital, Broadscale Group, Warner Music Group and SVK Crypto, as well as a personal investment from Gao Xiaosong, the chairman of Alibaba Entertainment. Raised in Space president Shara Senderoff and Galaxy Digital co-founder and partner Sam Englebardt will join the Audigent board.
Audigent touts itself as “the first all-in-one solution tackling the biggest challenge in entertainment — audience ownership growth and first-party data monetization.” The company notes that the new funding round will allow it to “aggressively expand” its sales and marketing efforts while continuing to develop its data platform and proprietary data products, including an A.I.-powered audience verification tool that eliminates fraudulent IDS and allows brands to target real people rather than bots. It additionally offers a full-service data strategy and programmatic trade desk team to assist brands with “audience-driven optimization and media execution.”
“The music industry flushes roughly 50% of our multi-billion-dollar digital ad spend down the drain instantly upon campaign launch by spending marketing dollars targeting audiences riddled with bots and duplicates from outdated third-party data sets,” said Raised In Space CEO Zach Katz in a statement. “We lack a true understanding of who encompasses our fanbases and until now, a solution to accurately find and target them. It’s simply irresponsible to continue in this manner.”
Added Senderoff, “Reaching audiences with precision ROI will give unprecedented meaning to how we utilize data in-music and entertainment across the board. Audigent is making a critical change to the mindset of a marketer, it’s no longer a routine media spend but now a strategic media investment. This is a game-changer.”
Audigent is led by adtech and entertainment entrepreneurs Drew Stein and Brian Rater, who co-founded the company with Shelton Mercer and John Gosier.