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Vibenomics closes on $6M funding round

(photo courtesy of Vibenomics)

FISHERS, Ind. (Inside INdiana Business) — Fishers-based Vibenomics has completed a $6 million Series A round of funding. The tech company, which provides an audio out-of-home (OOH) advertising and experience platform, says it will use the funding to grow the number of clients in its OOH Advertising Marketplace.

The company’s platform combines licensed music with paid commercial advertisements, which it says enables brands to talk directly to shoppers at thousands of retail locations. Vibenomics says with the new funding, it is looking to add more convenience stores and grocery retailers to its marketplace.

“Our team is pioneering programmatic Audio OOH media and has emerged as a resounding success story of how a traditional ad medium committing to digital transformation can achieve significant growth in both revenue and share of ad spend,” Brent Oakley, co-founder and chief executive officer of Vibenomics, said in a news release. “We will use this Series A investment to accelerate product development and scale go-to-market execution, building on the momentum we’ve already seen in only a short period of time.”

The company says it has added more than 100 brand advertisers at over 4,000 locations in 48 states.

The funding round was led by Georgia-based BIP Capital, bringing Vibenomics’ total funding to $13.5 million. The company most recently raised $5 million in seed funding last November.