Roblox is a company that enables kids to build 3D worlds and games. The company has raised $150 million in Series F funding at a valuation of more than $2.5 billion, according to TechCrunch’s sources. This round of funding was led by Greylock Partners and Tiger Global Management. Altos Ventures, Index Ventures, and Meritech Capital Partners also participated in this round. And Roblox has raised a total of $185 million in total equity funding.
“Roblox’s mission is to power the imagination of people around the world,” said Roblox’s CEO and co-founder David Baszucki. “This funding will allow us to scale the company as we serve all the creative individuals across the globe who come to our platform.”
This year, Roblox said it was cash-flow positive and the company is “extremely positive.” But the company decided to raise funding in order to have a “war chest,” a “buffer,” and for acquisitions. Plus the company has plans to open offices in regions like China. And the company is looking to build out infrastructures like local language and local payment support.
“Roblox’s thriving community and engagement reminds me of the early days of Facebook and LinkedIn. This is a platform that has reshaped the way kids and teens play with friends, through millions of user-created immersive experiences on Roblox,” said Greylock Partners’ David Sze.
Roblox is now seeing over 70 million monthly active users on its platform. Plus there are more than 4 million young creators on the platform who have built 40 million immersive experiences.
And this year, the Roblox creator community is on pace to earn more than $70 million from experiences that are published on the platform. Roblox also introduced the Roblox Education platform recently, which is a free and open-source curriculum for educators and summer coding camps.