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This article was published on May 21, 2012

    To fuel expansion in Asia, gaming social network Xfire secures $3 million

    To fuel expansion in Asia, gaming social network Xfire secures $3 million Image by: ktsdesign - Fotolia
    Robin Wauters
    Story by

    Robin Wauters

    Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

    Xfire, which operates an online community for gamers, has raised $3 million in new funding. The company previously secured $4 million in financing from Intel Capital in 2011, so this round brings its total of capital raised to $7 million.

    Likely, the investment round will be joined by additional backers later. The newly injected capital will serve to support its expansion into Asian territories.

    To that end, the investment round was led by a Singapore firm called IDM Venture Capital (also an investor in social casino games company Playsino).

    Xfire also recently teamed up with China Youth Goyor Technology in an effort to bring the company’s free social networking service for gamers to the more than 400 million gamers across Asia.

    The company also recently appointed Malcolm CasSelle as CEO. CasSelle was previously director of Hong Kong-based Capital Union Investments and was a top exec at Groupon’s joint venture with China’s Tencent.

    Founded in 2002, Xfire was acquired by Viacom in 2006, and again in 2010 (this time by a company called Titan Gaming).

    When it took funding from Intel Capital, it slipped back into indie mode.