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.