Roblox Corporation’s Series H funding round gave the company a valuation of $29.5 billion in January 2021.
The round raised $520 million and was led by Altimeter Capital and Dragoneer Investment Group. Other participants included Warner Music Group, Investment Group of Santa Barbara, and existing investors. It was a major step in Roblox’s preparation to become a publicly traded company.
The figure is often confused with Roblox’s earlier Series G round. That February 2020 financing raised $150 million and valued Roblox at about $4 billion. The later Series H valuation therefore represented a dramatic increase in the company’s private-market value during the pandemic-era growth of online gaming.
Roblox ultimately chose a direct listing rather than a conventional IPO. When it began trading on the New York Stock Exchange in March 2021, its reference price was $45 per share, roughly matching the Series H valuation. A private funding valuation and a public-market valuation are related, but they are not exactly the same measure.