Rec Room, a gaming platform for user-generated content, announced the close of $100 million in new funding, bringing the company's valuation to $1.25 billion. The new funding was led by existing investors Sequoia Capital and Index Ventures with participation from existing investor Madrona Venture Group.

Rec Room, which can be accessed via VR headsets, game consoles, PCs, and mobile devices, has over 5M rooms to explore with friends. These rooms are built by players inside of Rec Room leveraging their easy to use creative tools. In Rec Room, you can party up with friends worldwide, and build everything from escape rooms to adventure games, battle royale islands to birthday parties.