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Global TV gaming platform PlayJam raises $5 million in Series A funding

Looking to expand Asian and American operations
Global TV gaming platform PlayJam raises $5 million in Series A funding

TV gaming platform PlayJam has raised $5 million in a Series A funding round, with prominent backers including GameStop Digital Ventures, Adobe Ventures, Endeavour Ventures, London Venture Partners among others.

PlayJam is a TV games platform currently partnered with technology brands including Samsung, LG, Panasonic and Sony. Those four alone represent over 50 percent of the market share.

PlayJam is looking to use the money to aid its expansion into the Asian and US markets.

Goggle box gaming

According to its press release, there will be a predicted billion compatible devices by 2015, with mass consumer demand today demonstrated by connection rates of 75 percent in leading markets.

The company also says 38 percent of its 6 billion app downloads so far have been games, a fact which PlayJam claims will place it at the centre of an industry that also provides music and movies to the "digital home."

"TV occupies a unique place in the hearts and minds of over 4 billion people globally," said Jasper Smith, CEO of PlayJam.

"In terms of total media consumption, TV dominates and its potential is unparalleled for games.

Looking to aggregate existing Adobe Flash 2D and 3D games for distribution, the company will add features such as billing, leaderboards, tournaments and integration with social networks via the PlayJam SDK, scheduled for launch in Q2 2012

[source: PlayJam (PDF)]