Israeli Game Platform Co-Overwolf Raises $ 52.5 Million
Israeli game platform developer Overwolf Announcing the completion of a $ 52.5 million Series C funding round jointly led by Griffin Gaming Partners and Insight Partners. Game giants Ubisoft, Warner Music Group, Meg Whitman, Jibe Ventures, Kevin Chou, Intel Capital, Marker Fund and Liberty Media also participated in the funding round. The funding round is a $ 200 million corporate valuation, bringing the total amount raised by Overwolf to $ 75 million.
Overwolf has built a platform that allows third-party developers to create extensions and additions to their PC games. These enhancements allow players, for example, to record game progress, track improvement trends, and hold tournaments between players. Overwolf operates a store where you can purchase these expansion packs for popular games such as League of Legends, Fortnite, and Counter Strike.
Overwolf was founded in 2010 by CEO Uri Marchand, full-stack entrepreneur Gil Or, and VP product Alon Rabinovitz. The company has 81 employees in its offices in the Ramat Gan Diamond Exchange District.
Overwolf has 30,000 creators using the platform and more than 18 million active users each month. According to Merchand, the company earns tens of millions of dollars annually, and the growing popularity of games over the past year has increased monthly user numbers and platform product usage by 300%.
Overwolf also announced the launch of a new CurseForgeCore platform that allows third-party developers to enter the code of the game itself to add their own content. “Even game developers understand the value of the community and the fact that it can create very good content.” Source
