Gaming Software Startup Overwolf Raises $16 Million

Gaming Software Startup Overwolf Raises $16 Million

Overwolf develops a platform that enables third-party developers to create modifications to existing PC games

Adi Pick   :  2018-11-07T13:02:49..

Overwolf Ltd. announced on Wednesday it has raised $16 million in a funding round led by Intel Capital Corp. Overwolf develops a platform that enables third-party developers to create modifications to existing PC games, which are then available through Overwolf's app store.

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Liberty Technology Venture Capital, a subsidiary of Liberty Media Corp., and other investors also participated in the round.

Overwolf. Photo: Israel Hadari Overwolf. Photo: Israel Hadari Overwolf. Photo: Israel Hadari
In addition to giving an outlet for third-party game developers, Overwolf supplies a social media overlay for online games. 10 million active gamers use its platform, the company said.

Founded in 2009 and based in Tel Aviv, Overwolf raised $5.3 million in previous rounds, The company employs 50 people, according to Pitchbook data.

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Uri Marchand, Overwolf’s CEO, said the company will use the funds to further develop the company’s developer ecosystem.

In August, the company announced it partnered with Intel on a joint $7 million fund for apps, and overlays for games.

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