Rec Room Closes $100M Funding Round; Valued At $1.25 Billion
Summary
Rec Room, a Seattle, WA-based gaming platform for user-generated content, closed a $100m in funding round, bringing its valuation to $1.25 billion. The company intends to use the funds to continue to expand its business reach. These rooms, which can be accessed via VR headsets, game consoles, PCs, and mobile devices, are built by players inside of Rec Room leveraging their creative tools. Beyond gaming, the platform has become the go-to place for digital hangouts, creative classes, adventures with friends, office build-outs, weddings, and more. Free to download and play, it is available on iOS, Xbox, PlayStation, Oculus, and Steam.
Funding
Amount
$100.0M
Total raised
Date
March 24, 2021
Announcement date
Investors
-
Lead investors
Company
http://www.recroom.com
Funded company
Classifications
industries
No industries detected
applications
Web and Content Management
AskAI Classifications
Labels
Virtual Reality
Social Gaming
Software Development
Linked Companies
Rec Room
$10M to $25M