Connect with us

Plato Vertical Search

AR/VR

Rec Room raises $145m at $3.5b valuation

Rec Room raises $145m at $3.5b valuation - Rec Room screenshot 1

Rec Room, the social gaming company with a big focus on VR and user-generated content, has raised $145 million in new funding, taking its valuation to $3.5 billion

The post Rec Room raises $145m at $3.5b valuation appeared first on VRWorldTech Magazine.

VR and user-generated content are proving popular as Rec Room eyes 2022 expansion

Quick read

➨ Rec Room, the social gaming company with a big focus on VR and user-generated content, has raised $145 million in new funding, taking its valuation to $3.5 billion
➨ The new funding follows a $100 million capital raise earlier this year
➨ Coatue Management led the latest round, with participation from existing investors Sequoia Capital, Index Ventures and Madrona Venture Group

The story

Rec Room, the social gaming company with a big focus on virtual reality (VR) and user-generated content, has raised $145 million in new funding, taking its valuation to $3.5 billion.

The new funding follows a $100 million capital raise earlier this year. Coatue Management led the latest round, with participation from existing investors Sequoia Capital, Index Ventures and Madrona Venture Group.

Launched in 2016, Rec Room claims to have enabled more than 37 million people around the world to connect and create through the free-to-play platform that encourages users to meet, socialise and play in customisable, interactive rooms, which now number at more than 12 million.

Twitter, LinkedIn, Facebook or [email protected].

Don’t forget to read the latest issue of VRWorldTech Magazine. And never miss an issue again by picking up a subscription today.

Images: Rec Room

close

Source: https://vrworldtech.com/2021/12/23/rec-room-raises-145m-at-3-5b-valuation/

Related Streams

Blockchain

Exohood, a Decentralized Autonomous Organization, is building a new online financial platform by the end of the year. “ExoArato” is the application’s name, which will support...

Blockchain

1 of 1 #nft collectibles are now up for grabs!Continue reading on Medium »

Blockchain

The disconnect between corporate structures and blockchains is decreasing with Accumulate.Continue reading on Medium »

Blockchain

This weekend, the markets are incredibly depressing, with Bitcoin and Ethereum continuing their sharp decline. On the bright side, a recently released Web3 coin...