Rec Room Raises $145M at $3.5 Billion Valuation

Rec Room Logo

Rec Room, a Seattle, WA-based social gaming platform for user generated content, raised $145m in funding, bringing the total valuation to $3.5 billion.

This round was led by Coatue Management, with participation from existing investors Sequoia Capital, Index Ventures and Madrona Venture Group.

The company intends to use the funds to continue to expand operations and its business reach.

Launched in 2016 by CEO Nick Fajt, Rec Room provides a platform that enables people to create and immerse themselves in customizable, interactive rooms, or digital hangouts. With over 12 million rooms and counting, the system has created a space that promotes human connection where community members can interact, build, create and play games. Rec Room is available on mobile devices, game consoles, PC and VR headsets, including iOS, Android, Xbox, PlayStation, Oculus, and Steam.