MediaSpike, a platform for in-game product placement marketplace, has announced the successful closing of its Series A funding round, which raised a total of $5.2 million. The funds will be used to expand operations and further develop the company’s platform.
Key Points About the Funding
The Series A round was led by CMEA Capital, with participation from existing investors such as 500 Startups, Google Ventures, and Raptor Capital. New investor announcements include Andreessen Horowitz, Innovation Ventures, and a number of angel investors, including Jonathan Abrams, Othman Laraki, Rick Marini, and Naval Ravikant.
MediaSpike’s mission is to simplify the process of running product placements in mobile and social games. The company operates by enabling developers to create listings for standardized placements within their games, while advertisers bid for these opportunities. In a recent update, MediaSpike revealed that its network has reached 20 million unique users within just 20 months.
Blake Commagere, the founder and CEO of MediaSpike, emphasized that even with the additional funding, the company’s core mission remains unchanged. He explained that his team has always been driven by the idea that in-game product placement is a concept that already works, provided friction is removed. This vision will now allow MediaSpike to pursue its goals more aggressively, including the opening of an office in New York City.
Blake’s background as a developer for Facebook and other platforms informs his perspective on the shift to mobile technology. He explained that from the start, MediaSpike designed its platform with flexibility in mind, recognizing that current platforms may not be sufficient for future needs. The company now offers integration with both iOS and Android, while most of its technology operates on a server-side basis, ensuring quick adaptation to new platforms like mobile devices.
One notable aspect of the funding round is the backing of seven former members of MediaSpike’s development team, referred to collectively as the “Plaxo Mafia”. While the term may not be widely recognized outside of the industry, it underscores the strong connections and shared vision among key contributors.
Expansion Plans
With the additional capital, MediaSpike aims to expand its global presence and enhance its platform’s functionality. The company is currently exploring partnerships with major gaming companies to further integrate in-game product placement across a wide range of titles. Additionally, MediaSpike plans to invest in improving monetization strategies while maintaining a focus on developer-friendly tools and features.
Impact on the Advertising Industry
MediaSpike’s expansion aligns with growing trends in the advertising industry, where platforms like this are increasingly becoming essential for developers looking to integrate ads within their games. By simplifying ad placement processes, MediaSpike is helping to lower barriers for game developers while providing advertisers with more targeted and effective opportunities.
Conclusion
MediaSpike’s Series A funding round represents a significant milestone in the company’s journey toward becoming a leading platform for in-game product placement. With the new capital, the company is well-positioned to continue its rapid growth and further solidify its position within the gaming and advertising industries.
This concludes the rewritten article based on the provided content.