Monday, May 16, 2022

audvice brings audio boom to companies – Cusp Capital leads 1.9 million funding round

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audvice enables companies to share information more effectively through structured voice messaging – in teams, with partners or customers

audvice has closed its first VC financing round with Cusp Capital, CapitalT and TinyVC raising 1.9 million euros. With the startup’s software, every employee in a company – from CEO to trainee – can easily record voice messages, structure them in playlists and share them with colleagues, customers, or partners. audvice’s customers include Red Bull and ADAC. The funding round is led by Cusp Capital, a European VC fund that combines analysis of technical and social developments with more than ten years of investment experience to identify and fund the next generation of European technology champions at an early stage. Co-investors include CapitalT, TinyVC and the founders of Austrian EdTech Unicorn GoStudent, Felix Ohswald and Gregor Müller.

“Audio communication is booming and audvice serves this trend perfectly. Via audio, the latest and most relevant information can be easily recorded, shared and listened to, for example on the way to work” says Jan Sessenhausen, General Partner of Cusp Capital. Sophie Bolzer, Founder of audvice adds, ” audvice gives voice messages a structure to share information easily and effectively across organizations. Speaking is the oldest form of human communication. Especially in times of flexible working, companies need to create and maintain proximity – to their employees, partners or customers. Audio has great potential to achieve this, which companies have yet to exploit.”

As an audio platform for companies, audvice enables enormous efficiency gains.

Playlists are used to present extensive information in easily digestible portions and in a structured manner. At the same time, each playlist can be edited, added to or recompiled easily with new voice messages. Anyone who shares content with audvice always remains in control of what is shared with whom – whether it be within their own team or with external partners. There is a diverse amount of use cases companies can facilitate with audvice. They range from internal briefings to sales training, from onboarding new employees to advertising open positions via audio. Existing playlists can be integrated with audvice into other systems and platforms.

The investment of this financing round is meant to fuel audvice’s growth. In particular, the capital will be used to greatly expand the team. In doing so, audvice is committed to a remote-first strategy, offering flexible models to work from different locations.

audvice benefits from ongoing audio boom

More than 85 percent of the population consumes up to three hours of audio content daily. More than 60 percent of all workers regularly use voice messages, and nearly 80 percent of workers under age 34 do so. The rising trend of the audio boom was further fueled by the Corona pandemic. “Since the average screen time increased to around ten hours a day, the demand for alternative formats was rising and people turned to audio,” says founder Sophie Bolzer. Moreover, in times of hybrid working, it has become even more important for companies to find corporate communication formats that can convey context and emotion to avoid misunderstandings and strengthen bonds with employees – a potential that voice offers, but that companies have hardly used so far.

With audvice, a female tech startup takes off

audvice is an example of the positive trend toward more female founded startups in the previously male- dominated tech scene. With CapitalT, a female-led venture capital fund from Amsterdam, who invested alongside Cusp Capital the company has also brought female support on board. “Diversity brings more perspectives and leads to better results. That’s why we do not only want to see this in our team, but also among our investors,” says the founder.

Source audvice

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