VRChat Raises 80 Million Series D Funding
Popular VR social platform, VRChat, announced their completion of Series D funding of $80 million USD. The investment round was led by Anthos Capital with participations from GFR Fund, Makers Fund, and others.
According to Crunchase, this newest round of investment brings VRChat's total investment to $95.2 million.
In a statement, VRChat CEO Graham Gaylor said that "
“VRChat hosts a vibrant, creative, and engaged community that has played a critical role in shaping its continued development. We’re excited to work with our investment partners to further grow and empower our community at an accelerated pace,“
Currently with over 40,000 users, VRChat is a free app that connections VR and non-VR users in player generated spaces. Compatible with both PC and SteamVR, the VRChat app went on to support Oculus Quest in 2020.
With the latest funding injection, VRChat plans to expedite the development of a virtual economy where users can earn, improved social discovery system, and further platform expansion. The new development will help with VRChat's growth to enable more users to access this virtual metaverse.
Earlier this year, Rec Room raised $100 million from Index and Sequoia, as the company attempts to expand social networking tools by allowing user to connect beyond borders.
Rec Room was first launched as VR-only, but the company has expanded to gaming consoles, PC and mobile devices.