PlayJam raises $5million in funding round
London Venture Partners, GameStop, Adobe and Endeavour involved
PlayJam, specialist in embedded TV gaming, has closed a $5 million funding round which elicited investment from London Venture Partners, GameStop Digital Ventures, Adobe Ventures and Endeavour Ventures.
PlayJam's central business is a connected TV platform which ships with sets from Samsung, LG, Panasonic and Sony, amongst others. The new investment will be used to push that business into Asia and grow it in the US.
Adobe's involvement stretches beyond investment. The company will also be using Flash technology to create and port both 2D and 3D titles for the service.
"There is a growing market for delivering rich casual and social games to connected TVs and further the virtual console concept on the largest screens in the home," said Emmy Huang, group product manager of gaming at Adobe.
"We are delighted to support PlayJam as they pioneer new Flash-based gaming experiences across TVs using AIR."
PlayJam also quotes figures which suggest a worldwide market of over a billion connected televisions by 2015, and claims a connection rate of over 75 per cent for capable TVs in certain markets. Games are the largest part of the content market, pushing 38 per cent of sales.
For a more in-depth understanding of the connected TV marketplace, read GamesIndustry.biz's recent feature.