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Finance

Xfire: $4 million in funding and new exec team

Fri 07 Oct 2011 7:41am GMT / 3:41am EDT / 12:41am PDT
OnlineFinance

Gamer social network also breaks partnership with Titan Gaming

Xfire, the social site for PC gamers with over 20 million registered users, has secured $4 million in funding from Intel Capital, and added three new executive staff.

Mark Donovan joins as president, while Juston Brommel is now the CMO and Autumn Radtke the director of business development.

"Xfire is already the most advanced social service for gamers with group chat, group voice, and user generated content sharing tools like live game broadcasting," said Donovan, who was previously director of monetisation with the company.

"Think of Xfire as Facebook meets Skype for gamers. This round of capital is allowing us to make many enhancements starting with an entirely new look for the Xfire website and chat application. Intel Capital's funding will help us take what is already the leader in the space to the next level by continuing to build the team and quickly iterating on our product."

As well as this latest round of funding, provided by Intel Capital and Angel Investors, Xfire also has the support of investors like Tomorrow Ventures, Clearstone Venture Partners.

In August 2010 the company was acquired by Titan Gaming, a company co-founded by Donovan in 2006, but following this recent investment, Xfire will operate independently.

Xfire is based in California and its service is available in over 100 countries, allowing players to communicate while playing games like League Of Legends and World Of Warcraft.

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