IGA gets $25m
Thursday, 12th July 2007 at 10:45 am
Series B funding round boosts in-game advertising company
In-game ad firm IGA has raised $25m in series B funding.
GE/NBC Universal’s Peacock Equity and KTB Ventures led the round along with existing investors, Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital. The money will be spent on further growing IGA's business.
“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 Justin Townsend, Chief Executive Officer, IGA Worldwide. “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 ROI to advertisers and publishers alike.”
“IGA Worldwide is an important investment for Peacock Equity,“ said Thomas Byrne, Managing Director and Group Head, Peacock Equity. “The gaming industry is one of the major focuses for our Fund and has high growth potential that can shape the future of the new media advertising industry.”
“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, IGA Worldwide. “We expect to announce other key relationships with publishers, advertisers and other investors in the near future.”
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