Funds will be used for new titles, expansion to additional hardware platforms, and additional staff
SAN RAFAEL, CA, June 12, 2007 – 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."
Telltale is a new breed of interactive entertainment company pioneering high-caliber episodic game publishing and development. Founded in 2004 by industry veterans with decades of experience, the company has quickly become a leader in episodic gaming by delivering award-winning interactive experiences that emphasize engaging stories, strong characters, and rich worlds. Telltale has shipped 10 titles to date, using proprietary tools that streamline development of high-quality, cinematic experiences for multiple platforms and digital distribution. These releases include the monthly six-episode series Sam & Max: Season 1, episodes adapted from Jeff Smith's epic Bone graphic novel series, and games based on television's popular CSI program in partnership with Ubisoft. Telltale offers content development and custom publishing services for license-holders interested in interactive adaptations of their properties. Telltale's games are available at the company's website and through select partners such as Turner Broadcasting's GameTap subscription service. To learn more about Telltale, please visit www.telltalegames.com.
About Granite Ventures
Granite Ventures has been helping early-stage technology companies build solid foundations for success since 1992. They focus their investments in the communications and software sectors where their partners have deep domain expertise, broad industry knowledge, and significant investment experience. Granite has managed over $1 billion in venture capital and has invested in more than 90 private companies. They partner with promising and successful entrepreneurs to create businesses that have a competitive edge, and help those businesses achieve category leadership. More information can be found at www.granitevc.com.
About IDG Ventures SF
IDG Ventures SF is a San Francisco-based venture capital firm focused on New Media Technology—the convergence of the media and information technology markets. IDG Ventures SF helps entrepreneurs grow innovative companies using the operational and technical expertise of its General Partners and the unmatched platform of International Data Group, the world's largest IT Media company. IDG Ventures SF is part of the IDG global family of venture funds which have approximately $1.5 billion under management, and have invested in roughly 300 portfolio companies spanning North America, Europe, and Asia.
avanceventures, headquartered in San Rafael, California, is an advisory, valuation, and mergers and acquisition firm focused on helping privately held companies maximize their financial objectives. To learn more about avance, please visit www.avanceventures.com.