If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

IGA Worldwide's Series A expands to $17 million with new investment from Intel Capital

Intel Capital joins a world-class consortium of Venture Capital Investors in IGA Worldwide co-led by Easton Capital Group, Morgenthaler Ventures and DN Capital

News Release July 5, 2006 IGA Worldwide, the leading independent in-game advertising company, 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 consortium 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. "Intel Capital's investment in IGA Worldwide will be used to further accelerate our strategic relationship building programme 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 at 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." IGA Worldwide 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. As a conduit between advertisers, agencies and publishers, IGA Worldwide and its strategic communications consultancy IGA Hive provide the expertise, services and infrastructure to tap into a mass entertainment audience that reaches out to 150 million people in the US alone, predominantly in the lucrative and notoriously hard-to-reach 18 to 34 year old male audience. Industry sources state the cost of developing games for new platforms is now estimated at $10 to $30 million. In-game advertising provides publishers with a valuable new revenue stream as well as brand-funded game content and co-promotional exposure, helping to offset the commercial risks of bringing exciting new titles to market. (370 words) NOTES TO EDITORS About Intel Capital Intel Capital, Intel's venture capital organisation, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$4 billion in more than 1,000 companies spanning more than 30 countries. During this time, about 160 portfolio companies have been acquired and another 150 have gone public on exchanges around the world. In 2005, Intel Capital invested about US$265 million in about 140 deals with approximately 60 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com <http://www.intelcapital.com> . About IGA Worldwide, Inc. ( www.igaworldwide.com) IGA Worldwide is the global leader in 360-degree in-game advertising solutions, helping brands to achieve measurable results in the world's fastest growing and most engaging new communications medium. Through its proprietary ad serving network, Radial ®, IGA enables advertisers to dynamically target millions of engaged consumers across a broad range of game platforms, titles and genres, while its wholly-owned communications consultancy, IGA Hive delivers strategic consulting services and exclusive access to unique integrated product placement and co-promotion opportunities. Headquartered in New York with offices in London and Berlin, the group is backed by Easton Capital Group, Morgenthaler Ventures and DN Capital. IGA has recently been voted by ad industry-leaders as the 'Breakout Company of the Year 2006' and as a 'Top 100 Private Company' in the media and entertainment sector in the OnHollywood awards. For further press information please contact: Drew Benvie or Helen Cleaves at LEWIS Tel: +44 (0) 20 7802 2626 Fax: +44 (0) 20 7802 2627 Email: drewb/helenc@lewispr.com Web: www.lewispr.com For IGA Worldwide enquiries, please contact: Peter Bilotta Tel: +44 (0) 20 7250 4340 Email: pbilotta@igaww.com Web: www.igaworldwide.com
GamesIndustry International avatar

GamesIndustry International


GamesIndustry International is the world's leading games industry website, incorporating GamesIndustry.biz and IndustryGamers.com.