Social gaming platform, Roblox, has raised $92 million in a funding round led by Meritech Capital Partners and Index Ventures.
The gaming platform will use the fresh funding to strengthen its team and expand its infrastructure. Craig Sherman, Managing Director, Meritech Capital Partners; and Neil Rimer, Co-founder, Index Ventures, will be joining Roblox’ board.
The latest funding brings the total funding to $102.5 million. The last funding, a sum of $10.5 million, came in 2011.
The platform claims that it is “the largest growing social platform for play,” with “over 48 million players” coming “to Roblox every month to create adventures, play games, roleplay, and learn with friends.” Its largest number of users — 23.8 million — come from North America.
“We have a vision of creating an ‘imagination platform’ — the ultimate platform for for kids around the world to play, create, build, and imagine together,” said David Baszucki, CEO, Roblox.
The gaming platform has a “growing community” of 1.7 million creators, who produce their own 3D multiplayer experiences using Roblox Studio, the company’s desktop design tool.
Roblox is available on all “modern” smartphones, tablets, desktops, Xbox One, Oculus Rift, and HTC Vive. The company makes money from commissions it takes on micro-transactions conducted on the platform.
The company claims that it has paid over $9 million to its community developers — top creators making well over a quarter of a million dollars a year. It says that it has over 15 million newcomers signing up every month “purely through viral word of mouth.” During peak times, the platform claims to host over 1,000,000 participants simultaneously; and generates over 300 million hours of engagement monthly.
The company last month ventured beyond the online space with the introduction of Roblox Toya — figures and playsets in partnership with Jazwares. This first series of toys brings forty recognizable Roblox characters such as Builderman, Stickmasterluke, Mr Bling Bling, Circuit Breaker, besides others.
The toys are available in Toys “R” Us, and are expected to be available at Target and Walmart stores across the United States, Canada, and select international countries.