Anzu has successfully concluded a Series B funding round, raising $48 million. This funding round has significantly boosted the company’s valuation and attracted several prominent new investors. Notably, the round includes the conversion of SAFE notes, with investors exiting the company at a valuation increase of 10 times their initial investment.
Emmis Corporation, a highly respected American media, sports, and entertainment company, led the funding round. PayPal Ventures, Evolution, Simon Equity Partners, and Bandai Namco Entertainment 021 Fund, a corporate venture arm of the Japanese multinational entertainment company Bandai Namco Entertainment made additional investments. Among the existing investors in Anzu are Sony Innovation Fund, NBCUniversal, WPP, Bitkraft, Samsung Next, Harris Blitzer Sports & Entertainment (HBSE) Ventures, Axel Springer, and Marquee Ventures, the venture capital fund anchored by the parent company of the Chicago Cubs.
The growth of in-game advertising continues as more advertisers and developers recognize the tremendous opportunity it offers to access a new market of gamers, following the recent appointment of Nerissa MacDonald as EVP of Global Sales.
Anzu Co-Founder and CEO Itamar Benedy expressed enthusiasm about the completion of the Series B funding round, stating:
“We are thrilled to close our Series B funding round and bring some exciting new investors on board. We are confident that in-game advertising has the potential to be a multi-billion dollar market, and Anzu is perfectly positioned to take advantage of this huge opportunity. Over the past year, we have achieved some significant milestones towards our vision, and have connected with more exclusive AAA games and premium content, expanded our measurement capabilities for advertisers, and secured patents for our unique intellectual property.”
James Loftus, Managing Partner of PayPal Ventures, expressed excitement about supporting Anzu, stating:
“As the clear market leader in the nascent space of in-game advertising, Anzu brings highly sophisticated advertising into complex, 3D environments. We’re excited to support Anzu as they build on their proprietary technology, broaden their robust ecosystem of partners and expand their team in the U.S. and globally.”
The Founder, Chairman, and Chief Executive Officer of Emmis Corporation, Jeff Smulyan, stated that in-game advertising is poised to become the next significant advertising category and anticipated that partnering with Anzu as the company continues to develop the technology and business infrastructure necessary to integrate in-game advertising as a prominent component of every marketer’s media buying strategies.