Telltale Games secures funding

Developer of Sam & Max, Bone gets $825,000 in funding to bridge gap to second round of equity funding.

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Telltale Games today announced that it has acquired $825,000 in funding from a group of private investors. While the company did not disclose the specific terms of the note, the investors essentially loaned the money to Telltale to help the company sustain growth until its next round of equity funding. When Telltale enters that round of equity funding, the investors will be repaid with shares of ownership in the company, as well as the option to purchase an additional amount of shares at a predetermined rate. Telltale Games is currently wrapping up development on the second installment of its Bone series of adventure games, as well as ramping up work on its first Sam & Max game.

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