Lockerz Raises $36M In Series C Funding, Hopes To Raise $45M
Lockerz, the social e-commerce company, is close to locking down $45 million in a third round of funding. So far, the company has raised approximately $36 million with DAG Ventures leading the round. Other investors include Liberty Media, Kleiner Perkins and Greg Maffei, Liberty Media’s CEO. Live Nation Entertainment, the entertainment and e-commerce company behind Ticketmaster, made a strategic investment in Lockerz.
Lockerz plans to use this investment to expand their service to accommodate new members and develop new features that will help reward members for their online activity.
Kathy Savitt, CEO of Lockerz, spoke on the round of funding:
Lockerz is extremely pleased to have the continued support of our early investors, as well as welcome DAG and Live Nation to the Lockerz’ family. The funding will support Lockerz’ mission to be the homepage for Generation Z, which includes our rapid membership growth and aggressive development of innovative site features to engage and reward our members for what they love to do online.
Recently, Lockerz acquired AddToAny, a social bookmarking service, and set out to improve the sharing aspect of their platform. They also developed a photo-sharing service for iPhone and iPod touch devices that gives users PTZ, Lockerz’ system of rewards, when they use the service.
During Lockerz’ last round of funding, which occured in April, the company raised $30 million.
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