? Corporate Investment
Israeli-based in-game overlay app development platform Overwolf has raised $52.5m to help diversify its modding tools
Led by Griffin Gaming Partners and Insight Partners, the round also includes Ubisoft, Warner Music Group, Meg Whitman, and Gen.G co-founder Kevin Chou. Marker, Intel Capital, and Liberty Media are some of the recurrent investors
The funding will be used to boost the development of modding SDKs. More importantly, Overwolf would be able to support more in-game contributors financially
Roblox, another gaming platform based on user-generated content, went public at a $42.6B market cap last week, which reflects the excitement surrounding Overwolf
? Business Overview
Overwolf’s App Store is a digital marketplace that allows developers to build video game extensions, which are then made available to users. There are 10 million monthly active players on across different platforms
The company also owns CurseForge, a video game modding hub that boasts 30,000 creators, 90,000 mods, and 18m monthly users. The titles available include Fortnite, World of Warcraft and Minecraft
With the investment, Overwolf introduces CurseForge Core, an SDK for game developers and creators to simplify modding and to use custom-created content to help track player performance via developer APIs
? Previous Acquisitions And Funding
In June 2020 Overwolf acquired US-based CurseForge for an unstated amount. CurseForge is a hub for players to discover and download mods in-game and a platform to moderate content and monetize it
Overwolf has raised $16 million in Series B round funding in 2018, led by Intel Capital and including Liberty Technology Venture Fund and Marker as a recurrent investor
In 2017 the company started its shift towards mobile gaming market, purchasing StatsRoyale.com, Clash Royale players’ biggest fan site, and statistical data aggregator
As of 2015, Overwolf platform collaborated with League of Legends. Intel funded Overwolf’s community investment, helping to amass a considerable number of creators by 2019
In 2013 Overwolf has raised $5.3m in Series A round, led by Marker LLC
On their initial beta launch in 2011, Overwolf was offering features like in-game messaging, Facebook, Skype integration, and others. Its $100k seed investment was powered by Yossi Vardi
Sources: MEDIUM, VENTUREBEAT
