NeoEdge Picks Up $3 Million For Social Game Ads

San Francisco-based company NeoEdge, which offers an advertising platform for casual and social games, announced that it's raised $3 million in growth capital financing from MMV Financial. It had previously secured at least $9.4 million from Jefferson Partners and VanEdge Capital. Founded in 2002, the firm is led by game industry veterans from Electronic Arts and Pogo.com, and has sales offices in New York, Los Angeles, and Toronto. It intends to spend this new funding to further expand its national sales team and drive its development of new advertising products, such as ads with game-like elements. NeoEdge's platform, which integrates video and "rich media ad products" into online games, currently serves more than 100 million video ad impressions per month. Its partners include Yahoo Games, iWin, and most recently Red Atom's Facebook game Bar Society, a bartending game with over 275,000 monthly users. "We are very excited by our partnership with MMV," says Lesley Mansford, CEO, NeoEdge. "With their support, we are confident we can drive innovation in the social and casual space. We have been extremely pleased with MMV's flexibility in structuring a deal that suited us and look forward to building our new relationship with MMV."