IGA Worldwide secures USD 12 million in first round financing

Accelerating the growth of dynamic in-game advertising for the videogames market, IGA Worldwide has announced a successful first round of institutional financing which closed at USD 12 million.

The company plans to use the funding to accelerate both its own growth in the sector, and the global expansion of targeted, dynamic in-game advertising. IGA's proprietary Radial Network facilitates the delivery of a range of advertising content, including audio, video and 3D geometry in leading computer and videogame titles across multiple hardware platforms.

Through its various exclusive partnerships with game publishers and developers and the extension of its strategic planning and consultancy service, Hive Partners, IGA Worldwide focuses on enabling advertisers to tap into the lucrative 18 to 34 year old male audience, simultaneously offering publishers and developers a much needed revenue stream to offset the escalating development costs for next-generation titles.

IGA Worldwide CEO, Justin Townsend, commented: "This funding round will help us take in-game advertising to another level. The medium is already proving itself, but this vote of confidence along with our unique, proven approach to the market means that there is no end to the value we can provide to both advertisers and game publishers."

Led by New York-based Easton Capital Group and co-led by Morgenthaler Ventures, IGA's financing round included contributions from current investor DN Capital, attracting new backers keen to capitalise on the proprietary technologies and existing traction in what is rapidly becoming an integral aspect of next-generation videogame production.

"We and Morgenthaler Ventures both believe that this is a major market with explosive growth potential," added John Friedman, managing general partner at Easton Capital Group. "After an extensive analysis of the space and feedback from the varied constituencies served, we targeted IGA as the most attractive player based on the unique breadth of its management team and their service and product offerings," Friedman concluded.