Intel Capital, the corporate venture capital subsidiary of semiconductor and data technology provider Intel, led a $16m funding round for Israel-based in-game feature developer Overwolf on Wednesday.
The round also featured Liberty Technology Venture Capital, a corporate venturing vehicle for mass media group Liberty Media, as well as undisclosed existing investors.
Founded in 2010, Overwolf runs an online marketplace for in-game apps and services such as analytics and coaching services or recording tools that has more than 10 million monthly active users.
The company formed a $7m fund in partnership with Intel in August this year to make investments between $10,000 and $500,000 in developers of apps, modifications and game services for PC gamers.
Overwolf had raised an undisclosed sum in a 2011 seed round before securing $5.3m from unnamed existing individual investors two years later.
John Bonini, Intel’s general manager of virtual reality, eSports and gaming, said: “Overwolf’s position as a platform that serves millions of gamers, coupled with its partnership with top developers, means that Intel’s investment will convert into more value for PC gamers worldwide.
“Intel has always prioritised gamers with high performance, industry-leading hardware. This round of investment in Overwolf advances Intel’s vision to deliver a holistic PC experience that will enhance the ways people interact with their favourite games on the software side as well.”
