MASSIVE SCORES $5.5 MILLION IN NEW FUNDING EN ROUTE TO OCTOBER LAUNCH OF WORLD'S FIRST DYNAMIC VIDEO GAME ADVERTISING NETWORK
DFJ Gotham, RRE Ventures Join Previous Funders in Oversubscribed $5.5 Million Series B to Help Massive Transform Advertising Paradigm for Coveted 18-34 Demographic
NEW YORK CITY—JULY 19, 2004—Massive Inc., the developer of pioneering in-game, dynamic advertising for video games and creator of the world’s first aggregated video game network, today announced it has raised $5.5 million in additional funding in an oversubscribed series B financing round. Draper Fisher Jurvetson Gotham led the round with RRE Ventures and existing investors Tobat Capital and Newlight Associates.
Today’s announcement is the latest milestone for Massive in advance of the October launch of its dynamic video game advertising network, which promises to quickly become one of the most powerful opportunities for global brands to reach the coveted 18-34 male demographic. With this key audience increasingly shunning prime time television and print for interactive video entertainment such as online and console games, the Massive network will enable advertisers to serve dynamic, real-time ads into the environment in which young men now spend their time.
“Massive’s dynamic advertising network is a major leap forward beyond simple product placement in video games,” said Chip Meakem, principal at DFJ Gotham. “Massive’s combination of in-game advertising technology and network business model will be a core driver of the rapidly growing video game advertising market.”
Massive’s video game advertising network aggregates the gaming audience across multiple game publishers and titles and provides simultaneous delivery of advertising across this audience or to targeted demographic niches within it. Massive anticipates the ability to serve dynamic advertising on about 10 titles when its network is launched in October, and about 40 titles by the end of 2005, when its audience of18-34 year old males will rival Monday Night Football. Massive currently has long-term partnerships in place with global game publishing leaders Konami and Ubisoft.
“Advertisers are looking for new ways to make an impact and capitalize on the increasing diversity of content choices that consumers face every day,” said Andrew Zalasin, general partner, at RRE Ventures. “Massive has developed a powerful new advertising technology and built a network that will allow advertisers to connect with consumers who feel passionate about video game entertainment.”
The Massive advertising network will deliver the holy grail of advertising: content that is precise yet flexible, delivered to a truly engaged audience that can be fully quantified and verified. In addition to delivering marketing messages from global brands to this audience, Massive will be able to measure marketing impressions and report precise consumer interaction with this brand messaging. The Massive video game advertising network includes patent-pending ad server technology that allows ads to be dynamically served and customized within the context of the games, with no impact on game performance.
“The fact that consumers are moving away from TV and towards interactive entertainment is no longer an emerging trend but a harsh reality for advertisers,” said Mitch Davis, CEO of Massive Incorporated. “The technology we’ve developed and the network we’re building will deliver unparalleled reach, frequency, and flexibility and fundamentally change how advertisers think about campaign effectiveness and efficiency.”
The company said that Meakem and Zalasin will join Davis, Ian Packer, general partner, of Tobat Capital and Doug Miscoll, principal, Newlight Associates on the board of Massive.
About Massive Incorporated
Massive Incorporated is the developer and creator of the world’s
first video game advertising network, including the capability to serve
dynamic advertising to video game consumers and report precisely on
their interaction with this brand messaging. Massive is building the
largest aggregated network of premier video game titles that will allow
advertisers to target the coveted 18-34 year old demographic through
a truly interactive and dynamic experience. Located in New York City,
Massive is backed by DFJ Gotham, RRE Ventures, Tobat Capital, and Newlight
Associates. www.massiveincorporated.com
About Draper Fisher Jurvetson Gotham Ventures
Draper Fisher Jurvetson Gotham Ventures is an early-stage information
technology venture capital firm with approximately $100 million of
capital under management, focused on investment opportunities in
New York City and the surrounding regions. The fund is managed by
Ross H. Goldstein, Daniel J. Schultz and Charles Meakem and is an
affiliate fund of Draper Fisher Jurvetson, a leading venture capital
firm in Silicon Valley. www.dfjgotham.com
About RRE Ventures
RRE Ventures is a New York-based venture capital firm with over $600
million in assets. Founded in 1994 by Jim Robinson III, Jim Robinson
IV and Stuart Ellman, RRE invests in entrepreneurial information
technology companies with an emphasis on software, communications
and related enterprises that can become industry leaders in rapidly
growing markets. Our team brings a unique combination of management,
operations and investment expertise, as well as an unrivaled network
of relationships. The firm leverages these assets to establish business
and financial contacts, provide strategic direction and develop key
sales and marketing opportunities. RRE has helped build nearly seventy
companies, including WatchGuard (WRGD), Vastera (VAST), Ember Corporation,
SavaJe Technologies, MontaVista, Odyssey Logistics and Vocera. www.rre.com
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