Rec Room And Blippar Land Significant Funding Boosts

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Rec Room and Blippar are strong examples of the investment opportunities that exist in immersive technology in 2021

Quick read

➨ Virtual and augmented reality are high on the agenda of investors eager to see how digital transformation will play out in the consumer and enterprise markets

➨ US-based Rec Room Inc raised $100 million in financing from Sequoia Capital, Index Ventures, and Madrona Venture Group, a round that values the company at $1.25 billion

➨ In Scotland, Blippar, an augmented reality technology company, this week closed a $5 million funding round

The story

The Rec Room and Blippar funding rounds announced this week reveal that virtual and augmented reality are high on the agenda of investors eager to see how digital transformation will play out in the consumer and enterprise markets.

First up is Rec Room, the cross-platform social experience built on user-generated content that is doing a fine job of monetising virtual multiplayer games and merchandise.

Yesterday, US-based Rec Room Inc raised $100 million in financing from Sequoia Capital, Index Ventures, and Madrona Venture Group, a round that values the company at $1.25 billion.

Although existing investors, these venture capital firms are showing significant belief in Rec Room, which started out as virtual reality-only experience but is now present on PC, video game consoles and mobile devices.

TechCrunch says they are among a cohort of investors who missed out on Roblox’s IPO and don’t want to make the same mistake with other social gaming providers.

For its part, Rec Room is an excellent investment opportunity, surpassing 15 million regular users and achieving 566% year-over-year revenue growth. Previous funding rounds raised less than $50 million combined.

struggled to establish itself in the consumer augmented reality market and had to seek new investors.

Today, Blippar is focused on augmented reality content creation for the web in sectors such as live events, retail, fast-moving consumer goods, automotive, healthcare and education.

Its augmented reality creation and publishing platform, Blippbuilder, enables users to create and publish their own experiences. It also operates its own augmented reality studio.

Kellogg’s and Dr Pepper. We have leveraged our 10 years of investment, provenance, and technology leadership in the AR space to come back leaner, more focused and better than ever before.”

Van der Kuyl, who has also joined the Blippar board as a director, adds: “The immersive nature of AR makes it one of the most important use cases for the gaming industry. Blippar’s AR technology is by far the most advanced and innovative that I’ve seen in years and there is huge potential for AR to power the ultimate gaming experience of the future. We look forward to being part of the Blippar journey.”

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Images: Rec Room and Blippar