WildTangent Secures $34M
In a third round of financing led by Sony Pictures Digital Entertainment and Accenture Technology Ventures, WildTangent (www.wildtangent.com) raised $34 million, the company has announced. ATI, New York-based Millennium Technology Ventures, Washington Mutual and International Data Group Ventures, also became new investors.
According to WildTangent CEO, Alex St. John, interest expressed by clients spurred this round of financing. "Companies that we were doing business with last fall were so impressed with our technology they wanted to take a stake in the company," said St. John.
Wildtangent is a technology company that creates rich media experiences in a browser with the aid of a small download. WildTangent has been championing branded online games as effective advertising for offline brands. They have created games in partnership with retail companies such as Radio Shack and Toyota, as well as a game to market a TBS Superstation television pilot, "War Games."
The company also announced that it is creating a new online game to promote a major box office release from Sony Pictures to be called, "Knights Tale." The 3D game will appear on the Web before the release of the movie and will gain complexity as the release date approaches.
Its not all fun and games though, WildTangent is making strides in the world of enterprise as well. St. John indicated that Accenture Technology Ventures was very interested in the ways in which WildTangent's technology can be used to improve business functions on the Web.
"In addition to being a leading platform for online interactive media delivery, WildTangent has tremendous potential for broad business application across several industries," said Tom Fischer, a general partner with Accenture Technology Ventures, in a statement. "We view WildTangent as an excellent addition to Accenture Technology Venture's portfolio and look forward to working with them to achieve their market goals."