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Telltale Secures Extra Funding

by Rainier on March 1, 2006 @ 2:36 a.m. PST

Telltale today announced that it has closed an $825,000 Convertible Bridge Note, bringing Telltale's total seed funding to $1.4 million, enabling the company to expand its innovative entertainment initiatives through investments in additional popular licenses, technology development, and marketing.

Telltale has been assisted by the financial advisory firm avanceventures in the acquisition of all seed funding.

"The Internet is revolutionizing media and content distribution in the multi-billion dollar entertainment industry: music, video, shopping, games - you name it!" said Dan Connors, CEO of Telltale, Inc. "With our first titles based on Jeff Smith's popular comic books, Telltale is releasing accessible, innovative, interactive stories for the masses. This expansion funding gives us the ability to move even more aggressively in key areas of our business and further accelerate our company's strategy and growth."

"Here is a great example of the Keiretsu Forum ecosystem in action," said Colin Wiel, Chapter President of Keiretsu Forum San Francisco. "Matthew Le Merle, a Keiretsu Forum member and also the Chairman of Telltale, introduced the company to Keiretsu Forum. Keiretsu Forum members recognized a fantastic investment opportunity, and stepped forward with funding."

Telltale delivers high caliber entertainment experiences which feature engaging stories, strong characters, and rich environments. In 2005, Telltale released its first major downloadable episodic title Bone: Out from Boneville and is currently preparing the next installment for release this spring. Adding to their portfolio of great licenses, Telltale has formed an alliance with Steve Purcell to create new Sam & Max adventures. Telltale is also bringing characters and storylines from television's most popular show to life in CSI: 3 Dimensions of Murder, which Ubisoft will publish this spring. With Telltale's new Arcade, launched this past January, the company expands it's presence in the rapidly growing casual games market, which has a compound annual growth rate of nearly 200% according to estimates from industry analysts at IDC.

"Telltale represents one of those rare opportunities when a seasoned team launches a new company into an emerging industry just as it begins to take off. In just the twelve or so months since Telltale was founded, we have seen an explosion of interest in digital content and the downloadable model. Telltale is at the forefront of this transformation." said Matthew Le Merle, Chairman of Telltale.

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