Audazzio Announces $1.4M Capital Raise For Accelerated Growth
Audazzio, a software startup and recent participant in Comcast NBCUniversal’s SportsTech Accelerator program, has closed a $1.4 million second round of funding by many of its existing shareholders.
The financing will enable Audazzio to continue the ongoing rollout of its proprietary Live QR technology, which leverages ultrasonic, data-encoded sound waves to instantly create valuable second-screen opportunities on viewer phones and tablets.
In much the same way that a QR code graphic provides a unique digital fingerprint for a variety of uses, Audazzio’s Live QR algorithm encodes data as sound that is ultrasonic (inaudible) to the human ear but perfectly discernible by mobile devices—opening the door to a whole world of applications for savvy broadcasters, sponsors, and beyond. Audazzio provides clients with tools to facilitate focused messaging directly to fans in real time, either at home or in a stadium or arena. It also provides clients the ability to understand exactly who is engaged with a game or event, creating proximity marketing opportunities previously unavailable to sponsors and broadcasters. Sports broadcast and in-person event experiences are obvious areas of application for this technology; however, this only scratches the surface of the potential of these technologies, with active workshopping underway for uses far beyond sports and telecast.
“I’d like to thank our existing shareholders for stepping up and showing their ongoing confidence in our management team, their belief in our proprietary technology, and their support for where we are taking the company,” said Roy Terracina, chairman of the board/CEO, Audazzio. “This latest round of funding will allow continued expansion and the introduction of our ground-breaking technology in the marketplace.”
“This renewed investment by our shareholders gives us the opportunity after 10 months of development to introduce Audazzio into the broadcast, sports, live event, and gaming market sectors, demonstrating with real world trials the delivery of a powerful, fully coordinated, second screen experience for the most passionate of audiences, whether at a live event or watching TV,” concluded Danny Abelson, chief operating officer.