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Warner Music Group is participating in a $ 52.5 million Series C financing round for the Overwolf gaming UGC platform

Overwolf, an Israel-based company that allows developers to create, distribute, and monetize in-game apps and mods, raised $ 52.5 million in a Series C round.

The round was jointly chaired by Griffin Gaming Partners and Insight Partners with the participation of investors such as Ubisoft, Warner Music Group, Meg Whitman, GeneralG co-founder Kevin Chou and the existing investors Marker, Intel Capital and Liberty Technology Venture Capital. and Atreides Management.

News of WMG’s participation in the funding round follows news from January that the music company has invested in the kid’s game phenomenon, Roblox.

Overwolf, which has over 30,000 developers and 18 million monthly active users, has also launched CurseForge Core, known as the User Generated Content (UGC) as a service platform.

The company acquired the CurseForge mod repository from Twitch in 2020.

According to Overwolf, CurseForge Core offers “an SDK for game developers that is built into the game itself and acts as a gateway for users to discover and install mods in the game on all platforms and in all storefronts”.

Overwolf says it has seen 300% growth over the past year, along with the rise in the game-related content market.

The company says the new funds will be used to “increase the power of developing services for developers.”

It will continue to be used to create more opportunities and resources to invest in and with the game developer community.

The Tel Aviv-based company has raised over $ 75 million to date.

“Services like Overwolf have enabled the industry to see a new generation of user-generated content and we are excited to invest in the leader to drive this space forward.”

Nick Tuosto, LionTree

Nick Tuosto, Griffin Gaming Partners co-founder and Managing Director at LionTree, added, “Much like how developers use Unity to create a game, we see Overwolf as the framework for everything UGC has to do with games.

“Overwolf provides one of the only monetization opportunities for thousands of developers. This in turn means increased engagement for publishers and more content for players.

“Services like Overwolf have enabled the industry to see a new generation of user-generated content and we are excited to invest in the leader to drive this space forward.”

“We have followed UGC in gaming for many years and believe that Overwolf has established itself as a leader in this category.”

Teddie Wardi, Insight Partner

Teddie Wardi, Managing Director at Insight Partners, added, “We have been following UGC in gaming for many years and believe that Overwolf has established itself as a leader in this category.

“AAA game studios want to allow developers to build and express themselves, and Overwolf is positioned as a platform to make this possible by ensuring that developers are recognized for their contributions and that creations can be easily incorporated into games.

“Overwolf has proven to be a strong advocate for the creative community and we look forward to helping them scale up in 2021.”

“Overwolf is developing the holy grail of frameworks for UGC for both publishers and in-game developers.”

Oscar Navarro, Ubisoft

Oscar Navarro, director of corporate development at Ubisoft, said, “Overwolf is developing the holy grail of frameworks for UGC for both publishers and in-game developers.

“Enabling all major publishers like us to create mods in a safe, authorized, and profitable manner. is a game changer for all developers and IP owners. “Music business worldwide

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