Rec Room gaming platform raises $145M
Social gaming platform Rec Room has raised $145 million at a $3.5 billion valuation.
The funding round comes just nine months after the company raised $100 million at a $1.25 billion valuation, and it’s another sign of the prospects for user-generated content and the game investment boom.
Rec Room is positioning itself as a contender for the metaverse, the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One.
Users-as-creators is a big theme in the latest gaming boom, which has seen user-generated content platform Roblox go public and Overwolf raise $127.5 million in two rounds this year for PC gaming mods and helper apps.