In-game ad network developer Massive said it received $10 million in...
In-game ad network developer Massive said it received $10 million in a Series C financing round led by NeoCarta Ventures. But the round also included funding from 5 investors that already provided Massive with financing: DFJ Gotham, DFJ New…
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England, RRE Ventures, Tobat Capital and Newlight Assoc. In conjunction with the announcement, Massive announced that NeoCarta Managing Dir. Thomas Naughton joined its board. After launching its in-game ad network in Oct., Massive announced in Dec. that it teamed up with Nielsen Interactive Entertainment, which will provide 3rd-party accountability and measurement for ads on the network. Massive CEO Mitch Davis said the recent funding “will help us continue to expand our network, develop new and innovative advertising opportunities…, and bring Massive to a global audience.” He said Massive planned to open a European office and “significantly” increase its ad sales team “to help service our rapidly growing client base.” The company said its network included more than 40 titles from 8 game publishers, including Legacy Interactive, Ubisoft and Vivendi Universal Games. Massive claimed that by the end of 2005, its network “will deliver advertising reach of over 4 million 18-24-year-old men, as large as TV affiliate reach numbers today.” Naughton said the in-game ad market had “the potential to grow to over $2 billion by 2008.”