IGA Worldwide, one of the handful of in-game advertising networks set up during the past three or four years has reached for another round of investment in the form of a $25 million Series B round with cash from NBC Universal’s Peacock Equity and KTB Ventures along with existing investors, Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital.
It is almost too late for new entrants into this fledgling market that was first brought to light by the emergence of Massive Inc, later snapped up by Microsoft, as the sector began to consolidate almost before it was born.
Last month Sony took its first steps into in-game advertising when it said it would work with Nielsen Media to design an ad delivery system and an advertising measurement system.
Back in December rival Double Fusion also raised $26 million to continue development of its in game activities.
IGA claims to be the largest in-game advertising company and has delivered campaigns for 20th Century Fox, Ben Sherman, Discovery, FHM, Hawaiian Airlines, Intel, Jeep, MTV, and T-Mobile.
It is hard to see the precise exit routes for either of these two now that both of the heavyweights on the industry, Sony and Microsoft, each have a plan in place, although Sony could still acquire one. Of course many of the adverts served are not into console games, but internet held games.
Another advertising start up, adap.tv, also landed $10 million this week to fund its work building systems that lets publishers and advertisers match relevant advertising with online video content. The money came from Redpoint Ventures and existing investor Gemini Israel Funds