Overwolf Raises $16M in Series B Funding Led by Intel Capital, With Participation From Liberty Technology Venture Fund, and Marker
Overwolf, a profitable open platform for game apps and services, will use the new funds to accelerate the growth of the Overwolf developer ecosystem
TEL AVIV, Israel, Nov. 7, 2018 /PRNewswire/ -- Overwolf (https://www.overwolf.com) announced a $16M round of funding 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. Overwolf's mission is to generate value for every gamer in every game by empowering 3rd-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.
Being an open platform obsessed with the developer experience, 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 Uri Marchand, Overwolf CEO. "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," he continued.
This is Overwolf's third investment round after a seed round in mid-2011 and a series-A round at the end of 2013. The company is growing swiftly and recruiting for its Tel Aviv site: see open positions here.
"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."
This round of funding comes shortly after the announcement of a joint fund of over $7M by Intel and Overwolf, for the purpose investing in apps and mods for hardcore gamers. Developers are encouraged to apply here for funding.
About Overwolf
Overwolf's mission is to provide value for every gamer in every game by empowering third party developers. Working with passionate creators, venture backed startups and large corporates, Overwolf helps developers unlock new game features that improve game experiences and support the game publishers. Overwolf's partners include Intel, OP.GG, NVIDIA, Cloud9, Team Liquid, Riot Games, Logitech and many others. For more information, visit Overwolf.
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.3 billion in 1,544 companies worldwide, and more than 660 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
About Liberty Technology Venture Capital
Liberty Technology Venture Capital ("LTVC"), a subsidiary of Liberty Media Corporation attributed to the Formula One Group, is a venture capital fund dedicated to investing in technology startup companies. LTVC seeks to invest primarily in start-ups that offer synergies with, or operate in the same general market sectors as, Liberty Media's portfolio of companies.
Liberty Media Corporation operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Braves Group and the Formula One Group. For additional information on Liberty Technology Venture Capital, please email [email protected].
SOURCE Overwolf
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