![]() ![]() (To be sure, one of the major sticking points up to now has been that there hasn’t really been enough compelling content to merit investment and use of clunky VR headsets and other bleeding-edge technology.) ![]() The funding is coming on the back of very significant growth and scale for Rec Room, amid a wider climate where suddenly a lot more attention is being focused on VR and immersive experiences, and specifically companies that are building content (or vehicles for content) that engage users in those mediums. It noted 2 million people playing and creating content in March now, it said it has 37 million. In that period it has seen some very impressive growth. This is a significant hike on its valuation earlier this year, in March, when it raised $100 million led by Sequoia at a $1.25 billion valuation. The funding is being led by Coatue Management, with participation from existing investors Sequoia Capital, Index Ventures and Madrona Venture Group, and it is coming in at a $3.5 billion valuation. Rec Room, a free to download and play cross-platform social gaming company, has raised $145 million, funding that it will use to continue building out its tools and audience of gamers using them to create their own experiences across mobile devices, game consoles, PC and VR headsets (operating systems/platforms supported include iOS, Xbox, PlayStation, Oculus, Steam and, as of August, Android). On the heels of Roblox hitting it big with its platform for user-created gaming content, another startup has landed a major round of funding to build out its own user-generated platform aimed at immersive experiences. ![]()
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