Double Fusion raises additional financing from JVP
In-game advertising firm also names Alex Sood as new CEO
In-game advertising firm Double Fusion has announced it has secured additional funding in a round led by Jerusalem Venture Partners (JVP).
The financing will allow the business to continue to develop its position as the entry point for advertisers wanted to reach the gaming demographic, said the company.
It also announced the promotion of Alex Sood to the post of CEO. Sood has been with Double Fusion since 2006 and previously managed its Asian subsidiary.
"The ongoing confidence and support of our investors ensures our ability to shape the future of in-game advertising," said Sood.
"We're excited about the future of in-game advertising. The market is showing real traction and acceptance for in-game advertising as a must-have media for brands looking to reach a core demographic target. With the help of our platform and publisher partners, Double Fusion will continue to broaden the in-game product offering, satisfying the growing demands of this market."
Investor JVP, which specialises in media and technology companies, previously invested in Double Fusion during its start up.
"Since playing an active role in launching the business, JVP is proud to have worked continuously with Double Fusion's management team as the business has evolved," said Gadi Tirosh, JVP's general partner. "We stand by our philosophy of being long term investors, and we're excited about working with Alex, given his tenure at Double Fusion and his similarly oriented long term vision."
Double Fusion has worked with a number of publishing partners to provide in-games adverts, including Sony, NCsoft, Eidos and Gearbox.