News Brief
IGA Worldwide Eyes Asian In-Game Ad Market, Snags More Series B Funding
Jan 25, 2008, 7:00 AM
IGA Worldwide is primed to dive further into the in-game ad market in Asia--snagging an additional $5 million in Series B funding from ITOCHU Corporation, Presidio STX, LLC and Translink Capital, a trio of international investors.
ITOCHU and Presidio (a division of Sumitomo Corporation) both have bases in Japan, while Translink is a U.S.-based VC firm that specializes in connecting stateside companies with partners and resources in Japan, Korea and Taiwan.
"This investment is an exceptional endorsement for the market," said Justin Townsend, CEO of New York-based IGA Worldwide. "And it will allow IGA to further expand its global in-game advertising footprint to the most technologically savvy populations of gaming enthusiasts in the world."
GE/NBC Universal's Peacock Equity and KTB Ventures led the initial Series B round of investment, to the tune of $25 million in 2007.
--Tameka Kee
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