THANK YOU FOR SUBSCRIBING
The funding round witnessed Temasek and Tencent Holdings Limited joining Andreessen Horowitz as new investors. At the same time, existing investors Altos Ventures, Meritech Capital, and Tiger Global Management all expanded their previous investments in the company
FREMONT, CA: Global online platform providing immersive experiences through games Roblox raised USD 150 million in a Series G round of financing led by Andreessen Horowitz's Late Stage Venture fund. The round will open a tender offering up to USD 350 million in stock and preferred shares. Proceeds from the new series will be used to further fuel the company's long-term mission to define a new category of human co-experience. Roblox recently reached 115 million monthly active users and more than 1.5 billion hours of monthly engagement.
"We've stayed true to our vision of creating a safe and civil place where people come together to create, learn, and have fun, and it's amazing to see what we've built together with our global creator community," 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."
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
The funding round witnessed Temasek and Tencent Holdings Limited joining Andreessen Horowitz as new investors. At the same time, existing investors Altos Ventures, Meritech Capital, and Tiger Global Management all expanded their previous investments in the company. "The expertise of the Andreessen Horowitz team will strengthen our roster of world-class investors," said Michael Guthrie, Chief Financial Officer of Roblox. "This investment further bolsters our balance sheet while we grow our incredible team of engineers and support our creators around the world with the technology and infrastructure to build more immersive, massive, and collaborative experiences."
Roblox is well known for providing employees and early stakeholders with limited liquidity through periodic secondary offerings. "We have confidence in our long-term vision and ability to grow the value of our business over time. Roblox is also in the enviable position of being cash-flow positive. As such, we feel strongly about enabling our early investors, former employees, and current employees to share in our financial success along the way," added Guthrie.
The company is on a mission to bring people together through play. The vast user base of Roblox around the world leverages the platform to explore millions of immersive digital experiences. These experiences are built by the Roblox community, which houses over two million creators.
See also: Top Casino Management Tech Companies
More in News