- Rec Room, a Seattle, WA-based gaming platform for user-generated content, closed a $100m in funding round, bringing its valuation to $1.25 billion
- The round led by existing investors Sequoia Capital and Index Ventures with participation from existing investor Madrona Venture Group
- The company also intends to use the funds to continue to expand its business reach
- Led by Co-Founder and CEO Nick Fajt, Rec Room has over 5M rooms to explore with friends
- These rooms, which can also accessed via VR headsets, game consoles, PCs, and mobile devices, built by players inside of Rec Room leveraging their creative tools
- Beyond gaming, the platform has become the go-to place for digital hangouts, creative classes, adventures with friends, office build-outs, weddings, and more
