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New investors join the round, including Emmis Ventures, Bandai Namco Entertainment 021 Fund (Bandai Namco Entertainment 021 Fund), Evolution, and Simon Equity Partners
Anzu, the leading in-game advertising company, has announced a Series B funding round of $48 million, which will significantly increase its valuation. It also adds several high-profile new investors. The new round includes converting SAFE notes, and investors will exit with a 10x increase in valuation.
Emmis Corporation led the funding round, which included additional investments by PayPal Ventures and Evolution. Simon Equity Partners and Bandai Namco Entertainment 021 Fund are corporate venture arms of Bandai Namco Entertainment, a Japanese entertainment multinational. Anzu’s existing investors include Sony Innovation Fund (formerly NBCUniversal), WPP, Bitkraft and Samsung Next.
In-game marketing continues to grow, as advertisers and developers realize the huge potential it offers to reach new markets of gamers. Anzu will use this funding to expand its global leadership team, following the recent hiring of Nerissa McDonald as EVP Global Sales. Anzu will expand its U.S. footprint through the development of teams in different parts of the country. Anzu will be able to focus on its mission of improving advertising in video games and remain independent with the funding.
Itamar Benedy, CEO and Co-Founder of Anzu, said: “We’re thrilled to have closed our Series B round and welcome some exciting new investors.” Anzu, which is well-positioned to capitalize on this opportunity, believes that in-game advertisement has the potential to become a multi-billion-dollar market. In the last year, Anzu has achieved significant milestones in achieving its vision. We have developed a relationship with exclusive AAA games, secured patents on our intellectual property, and expanded our measurement capabilities.
Jeff Smulyan, Emmis Corporation’s Chairman, Chief Executive Officer, and Founder said that the new funding would allow marketers to connect with the billions of cloud-based, PC-based, console-based, and mobile gamers around the world. We are excited to partner with Anzu, as it provides the technology and system that will make in-game marketing a major part of all marketers’ media buying plans.
PayPal Ventures’ Managing Partner James Loftus stated: “As the market leader in a nascent area of in-game advertisement, Anzu delivers highly sophisticated advertising in complex, 3D settings. We are excited to support Anzu in their efforts to build upon their proprietary technology, expand their ecosystem of partners, and grow their team both domestically and internationally.
