SAN RAFAEL, CA, May 2, 2005 - Telltale, Inc. a San Rafael based publisher and distributor of downloadable adventure games, confirmed today that is has closed $0.6 million in private financing assisted by the financial advisory firm avance.
Telltale said it will use these funds to develop a series of adventures, that will bring to life the Bone franchise created by Jeff Smith of Cartoon Books, as well as to sign additional popular licenses. Bone is also the flagship title for Scholastic's new graphic novel imprint Graphix, which launched in February. In addition Telltale has recently signed an agreement to work on a still to be announced license.
The funding is the first round for the company and attracted accredited investors from across the US. Dan Connors, CEO, said he saw the funding as an endorsement of Telltaleâ€™s vision. â€œThe investment community is saying â€œTelltaleâ€ is a unique company with a clearly differentiated proposition, ideally positioned in the fastest growing segment of the video game industryâ€
The company confirmed that the board and management team of Telltale has also been strengthened as a result of the completion of this financing round. Matthew Le Merle, Group Leader of The Monitor Group LP, will join the Board of Directors as Chairman of the Board and John Ciacchella, head of the High Technology Practice of AT Kearney, Inc. will become a Director. Andre Blanadet of avance will join Telltale as CFO.
About Telltale, Inc.
Telltale Inc. headquartered in San Rafael, California is focused on becoming the leading publisher and distributor of downloadable adventure games. A new era of interactive entertainment is emerging â€“ a new generation is expecting more from their investment in play time. Telltale focuses on deploying the latest animation and storytelling technologies to develop entertaining and exciting interactive adventures to meet these new entertainment expectations. Staffed with long time industry veterans, Telltale launched its first game, Telltale Texas Holdâ€™em in early 2005 and is currently working on bringing Bone to life. Telltale titles can be downloaded from online partners such as Direct to Drive, Trymedia Systems, Boonty, and CNET as well as at the Telltale website. To learn more about Telltale, please visit www.telltalegames.com.
avance headquartered in San Rafael, California is a business valuation, management consulting and mergers and acquisition firm focused on helping privately held companies maximize their financial objectives. avance assists its clients with capital formation, mergers and acquisitions, joint ventures and alliances. avance brings fundraising capabilities (debt and equity) to ensure its clientsâ€™ achieve their objectives. Target clients include small and large companies that want to get to the next level.
To learn more about, please visit www.avanceventures.com
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