Meritech Capital Partners and Index Ventures Invest in the brand's expansion.
Roblox, the online social gaming platform that has recently expanded into toys, has announced the closing of a $92 million investment.
The investment is the first equity financing in over five years for Roblox, and will be put toward enhancing the platform’s infrastructure and recruiting of top talent. Meritech Capital Partners (investors in Snapchat, Facebook) and Index Ventures (investors in King, Supercell) led the financing, with Meritech’s managing director Craig Sherman and Index’s co-founder and partner Neil Rimer taking observer seats on the Roblox board.
The new funding follows a record-breaking year for the company, including the company’s rebranding, and an online to offline expansion with a first-ever user generated toy line.
“The opportunity to bring in additional top tier investors that share our vision is very exciting," said David Baszucki, CEO of Roblox.
"We’re already profitable, but the additional infusion of capital helps to strengthen our balance sheet so that we can accelerate building the most social, immersive and powerful imagination platform.”
Roblox has recently collaborated with toy licensing company, Jazwares, on a new toy line consisting of popular user-generated characters. The toy line, available at Toys R Us and other stores, can be found online and in physical retailers. The deal marks the beginning of an offline strategy that aims to bring Roblox to retail throughout 2017 and beyond.