Israeli games app platform developer Overwolf has announced a $16 million financing round led by Intel Capital, with additional investments from Liberty Technology Venture Capital as well as 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. The company strives to generate value for every gamer in every game by empowering third-party creators and developers. Overwolf provides gamers hundreds of useful apps for popular PC and mobile games, from real-time coaching services, analytics solutions, video recording tools and much more.
Overwolf CEO Uri Marchand said, "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. 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."
Founded in 2010 by Marchand, Gil Or and Alon Rabinovitz, this is the Tel Aviv based company's third investment round after a seed round in 2011 and Series A round in 2013. Overwolf and Intel also set up a $7 million fund for investing in apps and mods for hardcore gamers.
"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, VP and GM of VR, Esports and Gaming at Intel. "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."
Published by Globes, Israel business news - en.globes.co.il - on November 7, 2018
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