• by Gavin O'Malley  @mp_gavin, March 22, 2010

In-game advertising company Double Fusion on Monday appointed Alex Sood to the post of CEO. Sood joined the company in 2006, and most recently managed its Asian subsidiary.

In turn, the company's long-time CEO Jonathan Epstein is leaving to "pursue passions outside of gaming," a company spokeswoman said.

In addition, the San Francisco-based company has secured additional, yet unspecified, financing in a round led by Jerusalem Venture Partners.

"The ongoing confidence and support of our investors ensures our ability to shape the future of in-game advertising," said Sood. "The market is showing real traction and acceptance for in-game advertising as a must-have media for brands looking to reach a core demographic target."

It's unlikely, however, that Sood's rivals would agree with such an optimistic view. Within the past year, Microsoft's in-game ad network Massive was forced to execute major layoffs, while rival IGA Worldwide tried (and failed) to be acquired.

What's more, earlier this month, Electronic Arts dealt Massive and IGA major blows when it decided to take its in-game ad business in house.

Jerusalem Venture Partners incubated Double Fusion through its early stage investment vehicle, JVP Studio. To date, Double Fusion, has raised over $36 million.

Prior to Double Fusion, Epstein served as co-head of digital media at United Talent Agency.

Epstein started in the industry in ad sales at IDG Publishing, and left in 1995 to launch Gamespot.com. After selling Gamespot to Ziff-Davis, Epstein moved over to the role of EVP at Ziff Davis' ZDNet unit, and later to the same position at CNET -- which acquired ZDNet.