Games platform developer Overwolf has raised $5.3 million in a Series A financing round led by New York based Marker LLC (previously CP Lantern). Also participating in the round were angel investors including Bruce Hack, former CEO of Vivendi Games, and Israeli high-tech guru Yossi Vardi, who led the seed funding round. Marker general manager and co-founder Ohad Finkelstein has been appointed chairman of Overwolf.
Founded in 2010 by CEO Uri Marchand, Gil Or and Alon Rabinovitz, Overwolf is a software client, which brings gamers lives into their games, by seamlessly integrating social media tools like Facebook, Twitter, Skype or MSN Messenger, in order to help the gamer share game experiences and connect with friends while playing.
The latest proceeds will be used to develop an add-on platform to modify games.
The company is based in Tel Aviv where it has 12 employees and Overwolf plans to hire 8 more staff by the start of 2014.
Marchand said, "To date 2.7 million gamers have installed our product. We are undergoing rapid growth and this month alone there have been 300,000 installations so far due to the new feature that we have added."
He added, "It has taken us two years to come out with our beta product because the technology is very complex. At the start of 2014 we'll finish with the beta and officially launch our product and then we expect really swift growth."
Published by Globes [online], Israel business news - www.globes-online.com - on September 18, 2013
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