Roblox, a Platform Where Kids Build, Play and Sell Games, Raises $150...

Financing

Roblox, a Platform Where Kids Build, Play and Sell Games, Raises $150 Million

Mar 2, 2020

Roblox, a developer of an online gaming platform claiming 115 million monthly active users—mostly kids—has raised $150 million in a Series G round led by Andreessen Horowitz. Other new investors include Temasek and Tencent Holdings Limited; previous backers Altos Ventures, Meritech Capital and Tiger Global Management also joined this round.

This funding round gives the San Mateo, Calif.-based company a $4 billion valuation, according to The Wall Street Journal. Roblox has raised $335 million in venture capital since its founding in 2006.

Roblox is an online community where members can create, share and sell games built on the platform. It’s popular among children, claiming last year that it was used by half of all U.S. children aged 9 to 12.

In 2018, the company launched its own educational curriculum and has since offered free online resources and competitions to teach coding, game design and entrepreneurship. Roblox also hosts online camps where educators teach those same skills, along with digital civility and citizenship. The company claims these educational initiatives reached 650,000 students in 2018 and more than double that number in 2019.

  

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