- Roblox — a global online platform that brings people together through play — announced it raised $150 million in a new round of funding led by Andreessen Horowitz’s Late Stage Venture fund
Roblox — a global online platform that brings people together through play — announced it raised $150 million in a new round of funding led by Andreessen Horowitz’s Late Stage Venture fund. And it is also offering a tender offer for up to $350 million of common and preferred shares. This financing round comes as Roblox continues to experience rapid growth as it reached 115 million monthly active users and over 1.5 billion hours of monthly engagement.
This round of funding will be used to further fuel the long-term mission for defining a new category of human co-experience. Temasek and Tencent Holdings Limited had joined Andreessen Horowitz as new investors participating in the round. And existing investors Altos Ventures, Meritech Capital, and Tiger Global Management all expanded their previous investments in the company.
Roblox has had a history of providing employees and early stakeholders with limited liquidity through periodic secondary offerings. And Michael Guthrie, Chief Financial Officer of Roblox, pointed out that the company is cash-flow positive. This is why the company feels strongly about enabling early investors, former employees, and current employees to share in its financial success along the way.
Key Quotes:
“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. 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.”
– David Baszucki, CEO and co-founder of Roblox
“The expertise of the Andreessen Horowitz team will strengthen our roster of world-class investors. 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.”
– Michael Guthrie, Chief Financial Officer of Roblox
“We are big believers in Roblox’s long-term vision and are confident in backing the team as they enter this next inflection point. 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.”
– David George, General Partner at Andreessen Horowitz
