IGA Worldwide's Series A expands to 7 million with new investment from Intel Capital

Intel Capital joins a world-class consortium of Venture Capital Investors in IGA Worldwide co-led by Easton Capital Group, Morgenthaler Ventures and DN Capital

IGA Worldwide, the leading independent in-game advertising company, announced a combined $5 million investment from Intel Capital and IGA’s existing investor group to complete a Series A funding round that totals $17 million.

A consortium of investors co-led by New York-based Easton Capital, Morgenthaler Ventures and including existing investor DN Capital had earlier subscribed to the Series A funding round initially announced at $12 million.

“Intel Capital’s investment in IGA Worldwide will be used to further accelerate our strategic relationship building programme with the leading game publishers around the world,” said IGA Worldwide CEO Justin Townsend. “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.”

“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,” said Damien Callaghan, Strategic Investment Manager at 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.”

IGA Worldwide will use the funding to expand its relationships with publishers and continue to extend its global operations in support of a growing base of customers in North America, Europe and Asia.

As a conduit between advertisers, agencies and publishers, IGA Worldwide and its strategic communications consultancy IGA Hive provide the expertise, services and infrastructure to tap into a mass entertainment audience that reaches out to 150 million people in the US alone, predominantly in the lucrative and notoriously hard-to-reach 18 to 34 year old male audience.

Industry sources state the cost of developing games for new platforms is now estimated at $10 to $30 million. In-game advertising provides publishers with a valuable new revenue stream as well as brand-funded game content and co-promotional exposure, helping to offset the commercial risks of bringing exciting new titles to market.