Rec Room joined the Unicorn Club on March 23, 2021, after raising a $100 million Series D funding round led by Sequoia Capital and Index Ventures, valuing it at $1.25 billion. Headquartered in Seattle, Washington, United States, Rec Room provides tools for developers and gamers to create and play games. The platform enables users to build games without coding and offers a variety of games, including Paintball, Escape Room, Dodgeball, and Parkour Courses. Rec Room is available on Steam, PlayStation, and Oculus.
Keep reading to see how Rec Room became a leading platform for user-generated gaming experiences.
What Is Rec Room and What Does It Do?
Founded in 2016, Rec Room enables gamers to create, share, and play games on a single platform without coding knowledge. The company offers a range of games and experiences across PC, console, and VR platforms. Rec Room’s platform supports community-driven content, multiplayer interactions, and social gaming experiences, empowering both developers and gamers.
How Much Funding Has Rec Room Raised?
1. Series D Round
- Amount Raised: $100 million
- Date: March 23, 2021
- Valuation: $1.25 billion
- Lead Investor: Sequoia Capital, Index Ventures
- Purpose: Scale platform, enhance user-generated content tools, and expand gaming experiences
2. Latest Funding Round
- Round Type: Series F
- Amount Raised: $145 million
- Date: December 17, 2021
- Purpose: Expand platform features, enhance VR, and cross-platform capabilities
3. Earlier Rounds (Seed to Series C)
- Total Funding Before Series D: ~$26 million
- Key Investors: Coatue, Index Ventures
- Purpose: Product development, platform expansion, and community growth
Total Funding Raised: ~$271 million
Latest Funding Date: December 17, 2021
Latest Known Valuation: ~$3.5 billion
Employee Count: 279 (as of December 31, 2023)
Key Investors
1. Coatue
- Details: Technology-focused investment firm backing growth-stage companies.
- Focus Areas: Gaming tech, PC/console/mobile platforms, and digital entertainment.
2. Index Ventures
- Details: Venture capital firm investing in innovative technology companies globally.
- Focus Areas: Gaming, social platforms, and immersive experiences.
Where Is Rec Room’s Headquarters?
Rec Room is headquartered in Seattle, Washington, United States, where its teams focus on game development tools, VR and cross-platform gaming experiences, and community engagement solutions.
What’s Next for Rec Room?
Rec Room plans to expand its VR and cross-platform gaming tools, enhance social features, and support user-generated content creation. The company aims to grow its community of developers and gamers while continuing to innovate in immersive gaming experiences.
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