Officials from in-game advertising network IGA Worldwide have announced that the company has raised $25 million in a new round of Series B funding. Investments were led by GE/NBC Universal’s Peacock Equity and KTB Ventures, as well as existing investors, Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital.
Specific uses for the new funding were not mentioned, with IGA instead emphasizing the potential future grown of the in-game advertising market, which it claims will exceed $2 billion by 2012 – growing more than five times faster than any other major advertising medium.
IGA Worldwide already has a wide range of prominent clients including Electronic Arts, Codemasters, Valve, Eidos, Atari and Acclaim. As such their advertising technology has been used in titles including Battlefield 2142
, Test Drive Unlimited
and Colin McRae: DiRT
“We are very pleased that GE/NBC Universal’s Peacock Equity and KTB Ventures have joined this round of funding along with our existing investors,” said IGA CEO Justin Townsend. “This investment is an exceptional endorsement for the market and it will allow IGA to further expand its global in-game advertising footprint and ability to deliver the highest return on investment to advertisers and publishers alike.”
“Given the significant market potential for in-game advertising, the interest level was very high among strategic investors as expected,” said Christian Vry, chief strategy officer at IGA. “We expect to announce other key relationships with publishers, advertisers and other investors in the near future.”