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Rec Room has raised $145 million for its social VR platform of the identical title, bringing the corporate’s lifetime raised to someplace within the ballpark of $294 million.
Rec Room is essentially recognized for its roots as a VR social app however has since expanded to almost main platform doable, together with smartphones and present era consoles.
Boasting a lifetime userbase of 37 million and a 450 p.c MAU soar since November 2020, Rec Room now leads with a user-generated content material foot and says over 12 million “rooms” have been created inside its platform since its inception.
“It has been wonderful to observe Rec Room develop from a tiny assortment of mini-games into a worldwide platform with tens of millions of experiences constructed by the group. The platform has grow to be a spot the place folks can come collectively to kind significant connections, construct communities, and share their creativity,” reads a press release from CEO and co-founder Nick Fajt.
“There’s nonetheless a lot extra we wish to do, and as we head into 2022, we’re excited to construct extra experiences, broaden to new platforms, spend money on greatest in school belief and security programs, and proceed to broaden our creator instruments.”
This newest spherical of funding was led by Coatue Administration, with current buyers Sequoia Capital, Index Ventures, and Madrona Enterprise Group chipping in as effectively. All in all, this newest spherical brings the corporate’s valuation to $3.5 billion, up from $1.25 billion earlier this 12 months.
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