PlayJam secures $5m in funding for global expansion

PlayJam, the leading connected TV games platform, has secured $5 million (£3.1m) in funding from a variety of sources, as part of expansion plans in Asia and the US.

The company, which launched in 1999 on Sky, has closed a 'Series A' financing round with backing from GameStop Digital Ventures, Adobe Ventures, Endeavour Ventures, London Venture Partners and "a number of game industry luminaries".

PlayJam operates a worldwide network distributing mostly casual games on connected TV platforms, including Samsung, LG, Panasonic and Sony. It has generated more than 6bn downloads over the last five years and more than 50% of its users go on to pay for content.

Recent projections have indicated that there will be 1bn connected TV devices in the world by 2015, offering a range of extra services such as online video and digital apps. Games are considered one of the major growth areas in IP-enabled TV, currently accounting for 38% of app downloads.

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PlayJam said that the new funding will help it expand further into the potentially lucrative connected TV gaming markets in Asia and the US.

An agreement with Adobe also means that PlayJam will be able to aggregate Adobe Flash-based 2D and 3D games made for TV into its global network. The company has already announced partnerships with brands such as Slingo, Puzzler and Relentless, the company behind the Buzz franchise.

"There is a growing market for delivering rich casual and social games to connected TVs and further the virtual console concept on the largest screens in the home," said Emmy Huang, group product manager for gaming at Adobe.

"We are delighted to support PlayJam as they pioneer new Flash-based gaming experiences across TVs using [Adobe] AIR."

Chris Petrovic, the managing director of GameStop Digital Ventures, added: "The investment in PlayJam is an important step to understanding the potential of the connected TV sector.

"PlayJam has gained an early lead in the development, distribution and monetisation of games on TV and we look forward to working closely with them to develop the opportunity further."

Jasper Smith, the chief executive of PlayJam, said that the TV has "unparalleled" potential for becoming a new powerful platform.

"TV occupies a unique place in the hearts and minds of over 4 billion people globally. In terms of total media consumption, TV dominates and its potential is unparalleled for games," he said.

"Working with leading innovators such as Samsung, LG, Panasonic and Sony alongside our new investors Adobe and GameStop Digital Ventures, PlayJam is uniquely positioned at the forefront of this new and exciting opportunity."

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