Telltale Games secures additional funding

Telltale Games, developer of the highly anticipated sequel to PC adventure game Sam and Max, has secured an additional USD 825,000 in funding - bringing the total investment in the firm to USD 1.4 million.

The latest funding comes in the form of a Convertible Bridge Note, under the financial guidance of avance ventures and includes a "significant contribution" from America's largest angel investment network, the Keiretsu Forum.

Last year, Telltale released its first major downloadable episodic title, Bone: Out from Boneville, the next instalment for which is scheduled for release this spring. The company is actively seeking additional licenses and products, and has formed a strategic partnership with Steve Purcell to create new adventures for the much revered PC adventure game characters Sam & Max.

The company is also bringing characters and storylines from television show CSI to life, in CSI: 3 Dimensions of Murder, which will be published in spring by Ubisoft. Additionally, Telltale launched its online arcade at the start of the year, marking its debut into the rapidly expanding casual games market. Telltale will utilise the seed funding to expand its operations through investments in additional popular licenses, enhanced technology, development tools and product marketing.

Dan Connors, Telltale CEO, commented: "The Internet is revolutionising media and content distribution in the multi-billion dollar entertainment industry: music, video, shopping, games - you name it! With our first titles based on Jeff Smith's popular comic books, Telltale is releasing accessible, innovative, interactive stories for the masses. This expansion funding gives us the ability to move even more aggressively in key areas of our business and further accelerate our company's strategy and growth."

Mathew Le Merle, Telltale chairman and the person responsible for introducing the company to the Keiretsu Forum for funding opportunities, added: "Telltale represents one of those rare opportunities when a seasoned team launches a new company into an emerging industry just as it begins to take off. In just the twelve or so months since Telltale was founded, we have seen an explosion of interest in digital content and the downloadable model. Telltale is at the forefront of this transformation."