VRChat Raises $80 Million in Venture Capital Funding

This morning, VRChat announced that they had successfully raised eighty million U.S. dollars in investment, a sure sign of the growing prominence of social VR.

The official blogpost/press release states:

This new investment will allow us to expand the VRChat team, iterate on the platform and grow our community. This includes the ability for creators to earn and enable more people around the world to access VRChat.

This investment will expedite our efforts in building systems to give our community the ability to organize and earn. Our upcoming Groups system will help people self-organize based on their interests or hobbies, and the Creator Economy will enable anyone to earn from their own creations. These systems alongside other improvements will help foster community growth into the future.

My ears pricked up at the mention of groups and the creator economy, features which many VRChat users have been eagerly awaiting. A commenter on the RyanSchultz.com Discord server, Rainwolf, said:

Apparently that’s like the second-highest investing round on VR in general, as the first highest was the hundred million for Rec Room, and a lot more money than the VRChat investment of 4 million in 2017.

The future looks bright!

Liked it? Then please consider supporting Ryan Schultz on Patreon! Even as little as US$1 a month unlocks exclusive patron benefits. Thank you!