- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Roblox, a leading massively-multiplayer online game platform, has raised $150 million in Series G funding led by Andreessen Horowitz’s Late Stage Venture fund, it was announced Wednesday. The new investment opens a tender offer for up to $350 million of common and preferred shares in the company.
The new funding be used to “further fuel the company’s long-term mission to define a new category of human co-experience,” a reference to Roblox’s emphasis on cooperative play and content sharing on its platform. Temasek and Tencent Holdings Limited also joined Late Stage Venture in the latest round of funding, while existing investors Altos Ventures, Meritech Capital and Tiger Global Management all expanded their previous investments in the company.
Originally launched in 2005, Roblox caters to a younger demographic with an aesthetic similar to that of Lego toys and gameplay that allows users to create their own content and share with others. The game has grossed more $1 billion over its lifetime and hit a high of over $435 million in 2019. The Roblox gaming platform also recently reached a milestone of 115 million monthly active users.
According to a report from The Wall Street Journal, Roblox Corp. is currently valued at $4 billion.
“We are big believers in Roblox’s long-term vision, and are confident in backing the team as they enter this next inflection point,” said David George, general partner at Andreessen Horowitz. “Roblox is one of those rare platform companies with massive traction and an organic, high-growth business model that will advance the company, and push the industry forward for many years to come.”
Said David Baszucki, CEO and co-founder of Roblox: “Looking ahead, we’re doubling down on our commitment to building the most advanced tools and technology to take our creators and players into the metaverse of the future.”
Sign up for THR news straight to your inbox every day