Wednesday, January 19, 2022
    HomeReviewsRec Room raises $145 million at $3.5 billion valuation | Pocket

    Rec Room raises $145 million at $3.5 billion valuation | Pocket

    Social gaming and UGC platform Rec Room has raised $145 million from a current funding spherical which valued the corporate at $3.5 billion.

    The funding spherical was led by Coatue Administration and included participation from present traders Sequoia Capital, Index Ventures, and Madrona Enterprise Group.

    Since November 2020, Rec Room’s month-to-month energetic customers has elevated by 450 per cent, with cellular customers growing over ten occasions.

    Rec Room at the moment has over 12 million rooms wherein customers can work together, construct, create and, play video games. The agency has virtually 200 staff to take care of the platform, up practically 60 from final yr.

    Rising and rising

    “It’s been wonderful to observe Rec Room develop from a tiny assortment of mini-games into a worldwide platform with thousands and thousands of experiences constructed by the neighborhood,” mentioned Rec Room co-founder and CEO Nick Fajt.

    “The platform has grow to be a spot the place folks can come collectively to type significant connections, construct communities, and share their creativity. There’s nonetheless a lot extra we wish to do, and as we head into 2022, we’re excited to construct extra experiences, increase to new platforms, put money into finest in school belief and security techniques, and proceed to increase our creator instruments.”

    Coatue Administration associate Matt Mazzeo added: “We love the world Rec Room has created for mates to construct and play collectively. From telephones to VR, thousands and thousands of gamers are hanging out in Rec Room, and we’re excited to associate with the staff as they make the digital world extra enjoyable and immersive.”

    Rec Room is accessible free-to-play on cellular units, in addition to consoles, PC, and VR. The sport first launched on Android in August 2021.

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