Overwolf raises $16 million for game services in round led by Intel Capital | Gaming News
The perfect source for gaming uptodate news
Overwolf has raised $16 million for its game apps and services in a funding round led by Intel Capital. The Tel Aviv, Israel-based Overwolf has created an overlay platform that enables developers to create game applications, modifications, or services that enhance the experience of today’s PC games.
The deal follows an August announcement where Overwolf and Intel said they would create a $7 million fund to invest in apps and mods for hardcore gamers.
Additional investors include Liberty Technology Venture Capital, as well as Overwolf’s existing investors.
Overwolf is building an open platform of game apps and in-game services, with over 10 million monthly active players across mobile and desktop. Overwolf’s mission is to generate value for every gamer in every game by empowering third-party creators and developers.
Overwolf provides hundreds of apps for popular PC and mobile games, such as real-time coaching services, analytics solutions, and video recording tools.
As an open platform, Overwolf intends to heavily invest into new and innovative tools that give developers a best-in-class app publishing experience. Overwolf’s goal is to generate more value for developers of all sizes — from private independent contributors to venture-backed startups and large corporate developers.
“This round of funding marks a new chapter in Overwolf’s journey, and these resources will enable us to do more for our community of developers and partners than ever before” said CEO Uri Marchand in a statement. “Through our close collaboration with Intel, which shares our passion for building open and neutral ecosystems, we’re bringing our developer partners features that will help their business grow.”
This is Overwolf’s third investment round after a seed round in mid-2011 and another round at the end of 2013. The company is growing swiftly and recruiting for its Tel Aviv site.
“Overwolf’s position as a platform that serves millions of gamers, coupled with its partnership with top developers, means that Intel’s investment will convert into more value for PC gamers worldwide”, said John Bonini, general manager of VR, Esports and Gaming at Intel, in a statement. “Intel has always prioritized gamers with high performance, industry-leading hardware. This round of investment in Overwolf advances Intel’s vision to deliver a holistic PC experience that will enhance the ways people interact with their favorite games on the software side as well.”
Regarding the joint fund run by Intel and Overwolf, developers are encouraged to apply here for funding.
Sign up for Funding Daily: Get the latest news in your inbox every weekday.