In-game advertising firm IGA worldwide has completed a Series A funding round totalling US$17 million, boosted by a new US$5 million investment from Intel Capital.
The funding round was led by Easton Capital and Morgenthaler Ventures, with additional investment from venture capital firms including existing investor DN Capital. The round closed US$5 million higher than initially anticipated, thanks to Intel's additional investment in the firm.
IGA will utilise the funds to accelerate the growth of its Radial network and forge stronger links with publishers and advertisers throughout North America, Europe and Asia.
The continued rapid growth of in-game advertising, bolstered partly by the introduction of online-ready next-generation consoles, means much greater competition from rival firms in the sector, including Microsoft's recent acquisition, Massive Inc, as well as Double Fusion and Adscape Media.
"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," commented IGA Worldwide CEO Justin Townsend.
"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."
"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," added 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."