People are also spending significant time in those games. Gaming network traffic jumped early in the pandemic and kept rising too. , became havens for people to meet up amid the pandemic. Other apps like the world-building games Minecraft and Roblox, as well as the online battle game It's the latest in a string of social-focused apps to find success amid the COVID-19's perpetual isolation. "It comes down to providing a really strong community," Fajt said.īut in its push to grow, the company will face competition. He also noted that users had created more than 12 million rooms in which to play games or chat. Though the company declined to say how many people logged into its platform each month, it did say they'd jumped more than 450% in November from the same time last year.įajt said some of that growth had come from the company's apps being added to iPhones in 2019 and Android phones this summer. Rec Room's new funding, which was led by Coatue Management and involved existing investors Sequoia Capital, Index Ventures and Madrona Venture Group, will be used to grow the company and hire more employees.ĬEO Nick Fajt, who co-founded Rec Room in 2016, said the company has seen a jump in users amid the pandemic as people logged on to play games such as paintball and laser tag and race in vehicle rallies while chatting with other players. That puts its valuation at $3.5 billion, more than the nearly $3 billion Facebook agreed to pay when it acquired VR startup Oculus in 2014. Rec Room, a Seattle-based social gaming startup founded by people who worked onĮfforts, said Monday it has raised $145 million. One of the biggest apps in virtual reality just got a boost in its bid to become one of the biggest players in the next big tech trend, the metaverse.
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