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Overwolf raises $16 million in Series B funding round

By Tasho Tashev eSports 08 Nov 2018 102 views

Popular open software platform for gamers Overwolf managed to raise $16 million in its most recent Series B funding rounds.

Overwolf was made by gamers for gamers. The platform offers a wide variety of extensions which make a lot of things easier for players as they don’t need to leave the game. Instead the information is brought to them through the in-game tool of Overwolf. Currently the list of supported titles includes - League of Legends, Dota 2, Fortnite, Counter-Strike: Global Offensive, PUBG and Rocket League and more.

The series B funding round was led by Intel with Liberty Technology, Venture Capital and Marker LLC also taking part. This is Overwolf’s third investment round after the initial one in 2011 and another one in 2013 which managed to raise $5.3 million. Overwolf CEO, Uri Marchand commented on the recent success:

“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. 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.”

The company announced its collaboration with Intel in August when the two partnered to create a $7 million fund in order to develop new apps for gamers. Overwolf became popular around competitive games, where extensions are usually forbidden, but the tool sidesteps this as it doesn’t interact with the game engine itself. The platform is free to use and you can find more info about it on their official website.

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