The UK-based in-game advertising company Bidstack has secured $11 million in funding, and $6 million of the investment directly came from Denuvo’s owner Irdeto. The cybersecurity digital platform has conditionally agreed to invest via a subscription deal.
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“In this climate, to secure investment is a challenge for any business,” said James Draper, Founder and CEO of Bidstack, and added “This takes the total investment in the company to date to just over $42 million. Thanks to everyone involved in the journey to date.”
The company CEO shared the following message on his LinkedIn account:
“I’m pleased to share today that Bidstack has secured our first strategic investment, from Irdeto as part of a £10 million investment round.
“I am pleased to share that we have secured our first strategic investment, from Irdeto B.V. Irdeto, part of the Multichoice Group, is established as one of the world’s leading cybersecurity businesses, with their gaming division Denuvo being trusted as a leading anti-cheat middleware across the world’s most celebrated gaming platforms and franchises.
“Irdeto’s positioning across the gaming and entertainment space will lead to many opportunities for our two companies to collaborate going forward, as strategic partners”
Bidstack also released a short business update for its investors and said “it has also commenced the onboarding of sales teams across key markets such as the UK, Germany, France, Spain, Netherlands, Italy, Nordics, Portugal, and Belgium.”
Per the investor briefing, the US market is the next stage for Bidstack’s growth. The company believes it is now large enough to tackle the untapped US market in terms of in-ad game advertising. Bidstack aims to recruit sales, gaming, and marketing experts with experience in digital advertising and with US market knowledge.
