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created 11 months ago | Tagged: |
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Xfire, a social network for gamers, has raised $3 million in funding.
The company connects gamers together to share videos, screenshots, and gaming prowess. Gamers can post about the games they’re playing and the achievements they’ve received. Members can also watch live streams of game play, so you can decide if a game is worth picking up.
IDM Venture Capital led the round, which will be used to expand the company into Asian gaming markets. The full press release is below.
Xfire, a feature-rich online community platform that transports gamers’ social networks into thousands of PC games, secured an additional $3 million in funding to continue its expansion into Asian territories. Led by Singapore-based firm IDM Venture Capital, the latest influx of financing comes shortly after Xfire’s recently announced partnership with CHINA YOUTH GOYOR TECHNOLOGY (BEIJING) CO., LTD., which is bringing the company’s service to more than 400 million gamers in Asia. The investment from IDM Venture Capital, a venture capital firm investing in early- to mid-stage interactive digital media companies, is expected to be part of a larger funding round.
Providing the tools for online gamers to take screenshots, record video, chat across multiple games and share content to social networks in one streamlined application, Xfire is a free utility. The new funding will aid the company in integrating Chinese character support to the application’s in-game chat, helping millions of hardcore gamers in Asia improve their gaming experiences with native support for Xfire and its suite of tools.
This latest round of funding brings Xfire’s total amount raised to $7 million. The initial $4 million investment was led by Intel Capital in 2011.
