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Double raises $26 million

Time Warner, Hearst contributed to in-game ad company

In-game advertising company Double Fusion has raised $26 million in funding from Time Warner, Hearst and a host of venture capital firms.

Company, which inserts ads into videogames for its publisher partners, will use the money to expand its sales, tech development and international operations.

Lead investor was Norwest Venture Partners. Besides TW and Hearst, others pitching in coin included Accel partners, Jerusalem Venture Partners, IDG Ventures Pacific and Japan’s Sedona Capital.

In-game advertising space has been heating up this year. Earlier this month, Double Fusion signed a multi-game deal with publisher Take Two.

In May, Microsoft acquired Double Fusion competitor Massive to enhance the ad capabilities of its Xbox gaming platform.