Archive notice: This article was originally published on January 25, 2008. Links and embedded videos are preserved as part of the historical record.
IGA Worldwide completed an additional Series B financing round with Translink Capital, Presidio STX, a Sumitomo Corporation subsidiary, and ITOCHU Corporation. The total funding received in that round rose to nearly US$30 million.
The company said the investment would help it expand its in-game advertising position. It expected the sector to become a global billion-dollar market by 2012, while the participation of two large Asian financial conglomerates indicated demand in Japan, Korea and China.
Co-founder and CEO Justin Townsend said the investment would support expansion of global market share in technologically advanced gaming countries. Translink Capital co-founder and managing director Toshi Otani said the investor expected IGA Worldwide’s offer to generate the revenue needed for international expansion. A prior US$25 million Series B financing in 2007 had been led by GE/NBC Universal Peacock’s Equity and KTB Ventures; JMP Securities advised IGA Worldwide.
