Officials from in-game advertising firm Double Fusion have announced that the company has raised $26 million in a new financing round led by Norwest Venture Partners (NVP).
Other participants in the funding including existing investors Accel Partners and Jerusalem Venture Partners, as well as strategic investors Time Warner, Hearst Corporation, IDG Ventures Pacific and Sedona Capital (Japan). As a result of the new funding the company will be “aggressively scaling” key areas of its business including media sales, technology and international operations.
Established in 2004, Double Fusion’s client base includes big name publishers such as THQ, Ubisoft, Midway and, most recently, Take-Two Interactive
The company also recently announced a partnership
with Emergent Game Technologies to integrate the company’s in-game advertising technology as an inline feature in the Gamebryo Element game engine and toolkit.
"Double Fusion has outstanding market potential," said Jim Lussier, general partner at Norwest Venture Partners who will serve on the Double Fusion board. "No other new advertising medium starts with a worldwide audience of half a billion consumers, or is projected to grow as quickly. Double Fusion's team, technology and leadership position has earned the confidence of the combined investor group as the company that will drive, and create huge value from a fundamental change in video game and advertising models on a worldwide basis."