Roblox Corporation snags $92 million investment round

Roblox Corporation snags $92 million investment round
Jake Tucker

By Jake Tucker

March 15th 2017 at 3:45PM

Roblox planning on using investment for "support frictionless cross-platform play across PC, Xbox, Mac and Virtual Reality"

Roblox Corporation, the outfit behind the popular kids gaming platform of the same name, yesterday announced that they've completed on a funding round worth $92m.

The latest funding round, the first equity financing in over five years for Roblox, follows a record-breaking year for the company, with the company rebranding and also pushing out a range of user-generated toys. Roblox's last 18 months have been very positive with 48 million active players and 22 million user generated games.

Roblox is eying further growth, and they're looking to use this investment to "support frictionless cross-platform play across PC, Xbox, Mac and Virtual Reality with a significant focus on mobile."

The finance round was led by Meritech Capital Partners and Index Ventures, and part of the deal will see Meritech's Managing Director Craig Sherman and Index Ventures' Co-founder Neil Rimer taking observer seats on Roblox's Board.

"The opportunity to bring in additional top tier investors that share our vision is very exciting," said David Baszucki, Roblox's CEO.

"We're already profitable, but the additional infusion of capital helps to strengthen our balance sheet so that we can accelerate building the most social, immersive and powerful imagination platform."

On the Index Ventures blog (https://www.indexventures.com/news-room/news/roblox-secures-92-million-in-funding) Rimer discusses a feeling on his part that platforms like Roblox are breeding grounds for the next generation of games developers.

"I'm pretty convinced that the most prolific game developers of tomorrow are fooling around in the sandboxes of companies like Roblox," said Rimer. "Just as future Oscar and BAFTA winners are honing their skills on YouTube, or the next Annie Leibovitz has just set up her Instagram account."