Roblox raises $520M in series H funding amid plans for direct listing

Gaming platform Roblox Corp. raised $520 million in new series H funding amid plans to file a registration statement with the SEC for a proposed direct listing of its class A common stock.

The series H funding valued the company at $29.5 billion. The proceeds from the financing will expand Roblox's growth initiatives.

The funding round, which set a purchase price of $45 per share, was led by Altimeter Capital Management LP and Dragoneer Investment Group LLC. Other participants in the funding round included Investment Group of Santa Barbara and Warner Music Group Corp.

The number of shares of class A common stock to be offered by the company's stockholders for direct listing remains undetermined. Roblox plans to start the direct listing following completion of the SEC review process, subject to market and other conditions.

The gaming platform, which had filed for an IPO in November 2020, decided in December 2020 to postpone its market debut.