Funds will be used for new titles, expansion to additional hardware platforms, and additional staff
Interactive entertainment pioneer Telltale Inc. today announced that it
has secured $6 million in Series B funding. Granite Ventures led the
round, with IDG Ventures SF also participating. Telltale will use the
financing to drive growth in existing and new episodic series, allowing
the company to continue defining and refining new models for
interactive entertainment and digital distribution. Multi-platform
development and new staff additions are key elements in these strategic
plans.
The announcement dovetails with the conclusion of
Telltale's critically-acclaimed Sam & Max: Season 1, a six-episode
game series that launched last fall and had monthly releases through
May. As the first episodic series with releases on a regular schedule,
Sam & Max: Season 1 has emerged as the first truly successful
demonstration of episodic gaming for a mass audience'"a major milestone
for Telltale.
"Digital distribution is changing entertainment,
and Telltale is helping define the new landscape," says Telltale's CEO
and co-founder Dan Connors. "This funding will allow us to stay on the
cutting edge of innovation by building out our team and our tools, and
by taking on new licenses for the episodic treatment."
Telltale's
funding comes from Granite Ventures and IDG Ventures SF, two San
Francisco-based venture firms that focus on early-stage media and
technology companies. Andre Blanadet of the advisory firm
avanceventures played a critical role in Telltale's funding success.
"We
look for experienced teams that are pioneering new technologies and
business models in huge markets," says Chris Hollenbeck, managing
director at Granite Ventures, who has joined Telltale's Board of
Directors. "Telltale has it all'"a great group of people who are
changing an industry while doing what they love. We look forward to
helping them build the next major player in the gaming industry."
"Telltale
has one of the best teams we have seen in the gaming market and we are
excited to be associated with them," says Philip Sanderson of IDG
Ventures SF. "Entertainment software has undergone a radical change
over the past few years in terms of development, content and
distribution, and Telltale is on its cutting edge."
Of Granite
and IDG Ventures SF, Telltale's CTO and co-founder Kevin Bruner says,
"We managed to bring together a fantastic set of investors who share
our vision of transforming the way people experience games. We're
extremely pleased."
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