? Corporate Investment
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Israeli-based in-game overlay app development platform Overwolf has raised $52.5m to help diversify its modding tools
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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
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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
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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
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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
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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
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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
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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
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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
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In 2017 the company started its shift towards mobile gaming market, purchasing StatsRoyale.com, Clash Royale players’ biggest fan site, and statistical data aggregator
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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
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In 2013 Overwolf has raised $5.3m in Series A round, led by Marker LLC
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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
