NeoEdge has raised $3 million in venture funding to expand its product offerings for monetizing social games.
The San Francisco company has a platform for adding advertisements to social games. It can add a 30-second video ad to an online game to help publishers make money from free games. The investment shows that, even though virtual goods has become the most popular new business model for games, the advertising side of the business isn’t dead. Rather, it continues to grow.
NeoEdge currently serves more than $100 milion video ad impressions per month. It has partnerships with Yahoo Games and iWin, and it recently announced a partnership with Red Atom’s Bar Society on Facebook.
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