Against Gravity is building a VR world that won’t stop growing
The quest to create a social auditorium in virtual reality has eaten many VC dollars over the years. While plenty of contenders have emerged, it’s likely Against Gravity’s href=”https://rec.net/”> Rec Room has been the most creative in its approach to capturing a niche market while plotting how to build a sustainable business based on users in VR headsets talking to one another.
The Seattle startup has told TechCrunch exclusively that it has bagged $24 million over two rounds of funding. The studio’s Series A was led by Sequoia and their Series B, which just recently closed, was led by Index Ventures . Against Gravity has a bevy of top investors that also participated in the rounds, including First Round Capital, Maveron, Anorak Ventures, Acequia Capital, Betaworks and DAG Ventures.
The company didn’t break down the specific details of the rounds. Against Gravity was authorized to raise up to $15.4 in its Series B at up to a $126 million post-money valuation, according to Delaware stock authorization docs we got from PitchBook. The company didn’t comment on the valuation.
Rec Room is hardly a household name compared to some major console titles, but among virtual reality users, the title has