In-game ad firm IGA Worldwide announced a combined $5 million investment from Intel Capital and IGA's existing investor group to complete a Series A funding round that totals $17 million. A group of investors co-led by New York-based Easton Capital, Morgenthaler Ventures and including existing investor DN Capital had earlier subscribed to the Series A funding round initially announced at $12 million.
IGA Worldwide's proprietary ad serving network, Radial, enables advertisers to target game players across a wide range of platforms and genres while they play. It also provides strategic consulting services including integrated product placement and co-promotion through its wholly-owned communications consultancy, IGA Hive. IGA's major competitors in the in-game ad serving space include the now Microsoft-owned Massive Inc., Double Fusion, and Adscape Media.
IGA Worldwide confirmed that the company will use the funding to expand its relationships with publishers and continue to extend its global operations in support of a growing base of customers in North America, Europe and Asia.
"Intel Capital's investment in IGA Worldwide will be used to further accelerate our strategic relationship building program with the leading game publishers around the world," said IGA Worldwide CEO Justin Townsend. "As we see the in-game advertising market mature, the revenue from all forms of brand placements in games will be an important source of income for game publishers."
"The explosive growth of digital gaming is attracting millions of new users and is a key element of Intel's vision for the Digital Home," said Damien Callaghan, Strategic Investment Manager, Intel Capital. "IGA's products enhance this opportunity by enabling game developers and publishers to earn additional revenue ensuring the continuation of a vibrant industry - an issue of importance to Intel and its customers."