Lockerz Raises $36M in Series C Funding
Lockerz, a Seattle, WA-based social commerce company designed to serve the needs of Generation Z (ages 13 to 30), raised approximately $36m in Series C funding.
The round was led by DAG Ventures, with participation from seed investors Liberty Media, Liberty’s CEO, Greg Maffei, and Kleiner Perkins Caufield & Byers.
In addition, Live Nation Entertainment (NYSE: LYV), has made a strategic investment.
The company, which plans to complete its $45m Series C round in the next 60 days, intends to use the funds to grow its membership base and develop innovative site features to engage and reward members.
Led by founder and CEO Kathy Savitt, Lockerz offers advertisers, partners, and users opportunities to deliver and receive targeted messages and offers.
Lockerz’ members who upload photos, answer one-question polls and “Bonus” questions, watch videos, listen to music, invite friends, or log in, are rewarded with Points (PTZ®), which can be turned into discounts on great brands.
In July, Lockerz acquired the social sharing platform AddToAny (read the news).