Mountain View-Based NeoEdge Lands $4 Million for In-Game Ads

Mountain View, Calif. -- NeoEdge, the Mountain View-based developer of an in-game ad network for casual online games, said on Tuesday that it has raised $4 million in its first round of funding, co-led by VanEdge Capital and Jefferson Partners. The VanEdge investment is particularly of note, since that firm's principals include Paul Lee, the former president of Electronic Arts Worldwide Studios, and Glenn Entis, the former chief visual and technical officer of Electronic Arts Worldwide Studios and priCEO of DreamWorks Interactive. Dan Servos, NeoEdge's president and CEO, said that his company is "fortunate to have the financial backing, pedigree experience and relationships that VanEdge Capital brings to our business." The company plans to use the funding to expand its product offerings and acquire new premium online casual game titles. Founded in 2002, NeoEdge provides in-game ads for over 500 ad-supported casual games in its partner network, which includes some 50 game publishers.
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