Overwolf, A Tel Aviv-based maker of a platform that enables creators to build and monetize in-game apps, said it raised $52.5 million in Series C financing.
The round was co-led by Griffin Gaming Partners and Insight Partners with participation from investors including Ubisoft, Warner Music Group, Meg Whitman, Israeli-based Jibe Ventures, Gen.G Co-Founder, Kevin Chou and existing investors Marker, Intel Capital, Atreides Management and Liberty Media.
The funding will be used to hire more developers to create new services, along with investing in new opportunities, the company said.
The company also announced the launch of CurseForge Core, a User Generated Content (UGC) as a service platform. CurseForge Core provides an SDK for game developers that integrates into the game itself and functions as a gateway for users to discover and install mods in-game, across all platforms and storefronts.
In 2020, Overwolf acquired CurseForge from Twitch, the biggest repository of mods for video games including top titles like World of Warcraft and Minecraft. CurseForge and Overwolf have supported creator communities for over 15 years with a combined platform that includes over 30,000 creators, 90,000 mods and add-ons, and 18 million monthly users. Overwolf has experienced 300% growth in the last year as the market for content around games rises.
“We've been following UGC in gaming for many years and believe Overwolf has established itself as a leader in this category,” said Teddie Wardi, Managing Director at Insight Partners. “Overwolf has proved themselves to be strong champions of the creator community and we look forward to helping them scale up in 2021.”