VRChat Raises $80 Million To Prepare For Social VR Growth

VRChat raised $80 million in a Series D investment round to accelerate development and prepare for social VR growth.

The round is led by Anthos Capital with Makers Fund, GFR Fund and others participating. VRChat says it has more than 40,000 concurrent users after being the top free VR application on both Steam and the Oculus Rift store, and VR is not required to use the flexible platform for world creation and socialization.

“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,“ said Graham Gaylor, Cofounder and CEO, VRChat, in a prepared statement.

Rec Room raised $100 million earlier this year while Facebook pursues its Horizon social networking tools and a handful of other free-to-use social networking efforts pursue the goal of enabling connection and play no matter their physical distance. According to Crunchbase, VRChat raised a total of $15.2 million prior to this funding round.

“As the market for virtual reality grows, VRChat is primed for significant expansion and growth as the leading platform for virtual worlds,” said Brian Ames, Managing Director at Anthos Capital, in a prepared statement.

VRChat was founded in 2014 and is available on a wide range of platforms.

Source: Read Full Article