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December 17, 2006

In-game advertising firm Double Fusion secures funding for further growth

Independent in-game advertising network and technology provider Double Fusion has raised $26 million in a funding round to help accelerate the company's growth, including its plans for international expansion.

By CBR Staff Writer

Established in 2004, Double Fusion is led by a management team that pioneered in-game advertising and videogame media. The company has developed, and successfully deployed over multiple games, an end-to-end technology suite that enables the display of rich media advertising inside games.

Double Fusion said that it will use the proceeds of the financing to aggressively scale up key areas of the business, including its media sales, technology, and international operations, to maintain its leadership in what analysts project to be one of the fastest growing worldwide media businesses.

Videogames are providing a new advertising vehicle that not only delivers a highly engaged audience, but fundamentally changes the way consumers are able to interact with brands, said Jonathan Epstein, CEO of Double Fusion. Advertising, in turn, creates new business models for game companies that will continue to accelerate the growth of the gaming audience. The commitment and confidence of these premier financial and strategic partners is recognition of both the huge potential of the in-game advertising market, and of Double Fusion’s leading position within that market.

Double Fusion’s new and existing investors represent a strong combination of firms from the Silicon Valley, Israeli, European and Asian venture capital communities, as well as leaders from media and entertainment. They include Norwest Venture Partners, Time Warner, Hearst Corporation and IDG Ventures Pacific.

Double Fusion has outstanding market potential, said Jim Lussier, general partner at Norwest Venture Partners. No other new advertising medium starts with a worldwide audience of half a billion consumers, or is projected to grow as quickly.

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