In-game ad network and tech provider NeoEdge has raised $4 million in what it is calling a first round of funding. VanEdge Capital, an interactive entertainment-focused fund founded by former EA vets Paul Lee and Glenn Entis, co-lead the round with Toronto-based Jefferson Partners. NeoEdge will use the new money to help build out its ad-tracking and serving platform, as well as expand its network through game acquisitions.
Founded in 2002, SEC filings show that NeoEdge previously raised just over $5.4 million in funding from Jefferson Partners, Boston-based VIMAC Ventures, as well as private investors; subsequent filings show that the company also sold roughly $4.4 million in convertible notes to investors including *Atari* founder Nolan Bushnell. NeoEdge has ad sales partnerships with big casual games portals like Yahoo Games; it most recently inked a deal with USA Network to add games and ads to the company’s redesigned Character Arcade gaming hub. Release.