Boston-based ad company Nanigans announced today that it has closed $3 million in Series A funding for its Facebook advertising platform.
Earlier today, Nanigans also revealed that it has signed an agreement
with Electronic Arts' social game subsidiary Playfish to manage the company's ad campaigns on Facebook.
Nanigans says it will use this funding to expand its team and develop its Ad Engine service, which provides real-time bidding for advertisers who want to reach customers on the popular social network.
Venture capital group Avalon Ventures led this first round of funding, and other investors include Boston-based angel investor Rich Levandov, who also led the initial investment in Zynga.
"We look forward to working with our new investors who are experienced in scaling successful companies in the social and behavioral ad targeting spaces," said Ric Calvillo, founder and CEO of Nanigans.
Electronic Arts has confirmed to Gamasutra that the announcement this story is based on contained factual inaccuracies, primarily in its presumption that Nanigans is the exclusive manager of EA and Playfish's Facebook ad campaigns.
"First and foremost, there is no exclusivity to the engagement between EA, Playfish and Nanigans," a company representative tells us.
Nanigans has since confirmed the lack of exclusivity, writing on its website that "To clarify, Nanigans does not have any type of exclusive relationship with EA and Playfish."
This story has been updated to reflect this new information.