Loot Crate, a fan-based commerce and community platform, raised $18.5m in Series A funding.
The round was led by Upfront Ventures, with participation from Breakwater Investment Management, Time Inc., Downey Ventures, M13, and Sterling.VC. In conjunction with the funding, Greg Bettinelli, partner at Upfront Ventures, will join Loot Crate’s Board of Directors.
The company will use the funds to expand operations and diversify its product offerings.
Launched in 2012 and led by Chris Davis, CEO, Loot Crate offers its consumers, known as “Looters,” themed mystery boxes each month tailored around leading entertainment and pop culture franchises.
Each box offers 4-7 curated products (the majority of which are Loot Crate-exclusive items) and content that range from collectable figurines to comic books and apparel. Through strategy and insights, the company has now expanded its product line into new areas beyond its original crate offering to include apparel, gaming, pets and anime crates.
Loot Crate, which currently services 35 countries, has revenues of more than $100M. It is based in a Los Angeles, CA.