DN joins IGA's game
Article Date: Feb 10 2006
London-based technology investor DN Capital has increased its stake in video game advertising specialist IGA Worldwide, through the latter’s latest $12 million financing round.
Operating out of offices in New York, London and Berlin, IGA’s technology enables advertising content (be it audio, video or whatever else) to be streamed into computer games. This is still a relatively young industry, yet market forecasts expect its total value to exceed $1 billion by the end of the decade and IGA chief executive Justin Townsend asserts that ‘we are already working with many leading brands.’
With US venture capital firms Easton and Morgenthaler also investing, DN’s Steve Schlenker has high hopes for the business. ‘Over the past decade, video games have emerged as a dominant medium and are increasingly replacing TV and film as the primary entertainment source,’ he postulates.
‘If you look at your average gamer they’re 29 years old, male, well-educated and have a lot of disposable income,’ adds Townsend, ‘and that’s a very appealing demographic for advertisers.’
IGA will use the money raised to continue development of its platform and to fund expansion across Europe and Asia. ‘We were completely oversubscribed for this round and expect to complete a much larger fundraising later on this year,’ Townsend concludes.
