Rec Room is one of the most successful video games of recent times, the’social creative game’ receives a new, important funding that will allow the software house to expand further, for the happiness of its millions of
The last financial transaction conducted by Coatue Management adds $145 million to the already rich share capital of a company that boasts other partners such as Sequoia Capital, Index Ventures and Madrona Venture Group.
With the latest $145 million funding, the overall evaluation of the Rec Room’s free-to-play platform reaches the incredible $3.5 billion figure, corresponding to the current exchange rate at 3.09 billion euros. In March alone, the value of Rec Room was $1.25 billion.
Founded by Against Gravity in 2016, the interactive dimension of Rec Room first began as a title that can only be used in Virtual Reality, and then embrace a significantly wider audience with the landing place on PlayStation 4, Xbox
Reflecting on the incredible rise of this free-to-play project that aims to become a real Metaverse, Rec Room CEO Nick Fajt explains that “the platform has become an increasingly popular place over time. There is much more we would like to do and, as we approach 2022, we are excited to know that we can expand further to embrace new platforms and invest in the best security and content creation systems.”