Gaming Startup Overwolf Raises $16M In Funding Round Led By Intel

Israeli startup Overwolf, the developer of an open platform for game apps and services, raised $16M in a Series B funding round led by Intel Capital, with participation from Liberty Technology Venture Fund, as well as existing investors. The funds will be used to accelerate the growth of the Overwolf developer ecosystem, the startup said in a statement.

Overwolf is building an open platform of game apps and in-game services and has over 10 million monthly active players across mobile and desktop. 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.

“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, 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,” he added.

This is Overwolf’s third investment round after a seed round in mid-2011 and a series-A round at the end of 2013.

This financing round follows the announcement of a joint fund of over $7 million by Intel and Overwolf, for the purpose of investing in apps and mods for hardcore gamers.