NewsSan Francisco-based social game chat and middleware firm Xfire has completed a $4 million round of funding led by Intel Capital, and has named a new executive team to lead the newly independent company. Competitive gaming company Titan Gaming acquired Xfire from Viacom's MTV Networks last year, but with the new funding Xfire will now split off into its own entity, according to an announcement. Titan Gaming co-founder Mark Donovan will serve as president of the new Xfire, with Revenue APEX founder Juston Brommel coming on as chief marketing officer and Geodelic Systems co-founder Autumn Radtke serving as director of business development. Donovan said in a statement that the funding would be used to create a new interface for the Xfire web site and chat client, the latter of which is used by over 19 million gamers in thousands of titles from hundreds of publishers. Launched in 2003, Xfire's free downloadable chat application lets PC gamers track and talk with friends as they play games, as well as capture and share in-game video and screen shots. The company has previously received over $1 million in funding from angel investors including Tomorrow Ventures, PriceGrabber co-founder Kamran Pourzanjani, and MP3.com founder Michael Robertson. Intel Capital has previously invested in gaming companies including mobile social network Openfeint, streaming game demo service Gaikai and cross-platofrm games-on-demand company TransGaming.
Xfire Announces $4M In New Funding, New Executive Team
San Francisco-based social game chat and middleware firm Xfire has completed a $4 million round of funding led by Intel Capital, and has named a new executive team to lead the newly independent company.