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Overwolf Has Raised $52m Of Series C Funding

LATER VENTURE | ANNOUNCEMENT DATE: 16 MAR 2021
WRITTEN BY | 23 Mar 2021
Overwolf Has Raised $52m Of Series C Funding
LATER VENTURE

💵 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

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💵 Corporate Investment Israeli-based in-game overlay app development platform Overwolf has raised $52.5m to help diversify its ...
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LATER VENTURE
Overwolf
  • Established in 2011

  • Headquarters — Ramat Gan, Israel

  • Founders — Uri Marchand, Gil Or, Alon Rabinowitz, Nir Finkelstein

  • A team of 67 developers

  • A software platform designed to help developers create extensions for video games