Xfire Expanding Into Asia With $3 Million Investment

Social gaming platform Xfire has secured itself another $3 million in funding to help its expansion into Asian markets, with the firm's sight set firmly on the emerging Chinese gaming market.

Recently appointed CEO Malcolm Casselle has been working with Goyor Technology to achieve this goal and these new funds will go a long way in showing the long standing gaming chat company as a serious contender. The main funding contributor was IDM Venture Capital.

"Xfire's Asian expansion and product pipeline are a key focus for our firm, and indicate the company is poised for exponential growth," said Denis Gamobramov, managing partner of IDM Venture Capital.

"Gamers yearn for the type of broad-based social connections, content creation and in-game experience that is only possible through Xfire."

This isn't the only funding push the firm has had in recent times, however. Back in 2011 Intel Capital added $4 million to the company's development fund, meaning that while Xfire is perhaps less relevant than it used to be, thanks to improved Steam features and much more socialising occurring within games themselves and on sites like Facebook and Twitter, it is still considered a major player by the powers that be.

Source: Games Industry