Lucra Secures $10M To Innovate Social Gamification
Deal News | Dec 05, 2024 | Raptor Capital Management LP
Lucra, a leader in social gamification technology, has successfully raised $10 million in funding, led by 7GC, SeventySix Capital, and influential personalities including Steve Kuhn and NBA MVP Giannis Antetokounmpo. The funds are intended to expand Lucra's product offerings and market presence. The company, founded by Stanford GSB classmates, has grown from a consumer-focused model to a B2B solution, serving top hospitality and entertainment brands such as Dave & Busters and TouchTunes. Its gamification platform enhances brand loyalty and customer engagement by integrating gaming features that keep wagered funds within brand ecosystems. With a strong partnership network, Lucra's CEO, Dylan Robbins, emphasizes the company's role in transforming brand-consumer interaction. The latest funding will support further product development and international expansion, with plans to introduce new features like social tournaments and alternative currencies. Giannis Antetokounmpo, a new investor, highlights Lucra's potential in revolutionizing fan engagement.
Sectors
- Technology
- Hospitality and Entertainment
- Sports and Recreation
Geography
- United States – Lucra is based in the United States and partners with several US-based brands, making the US a significant market for its growth strategy.
- International – Lucra plans to expand internationally, signifying its future presence and impact in global markets.
Industry
- Technology – Lucra operates in the Technology sector, specifically focusing on social gamification technology for enhancing brand loyalty and customer engagement.
- Hospitality and Entertainment – Lucra partners with major hospitality and entertainment brands to integrate its gamification technology, directly impacting these industries.
- Sports and Recreation – Lucra's gaming platform involves sports-based interactions and partnerships with professional teams, highlighting its relevance to the Sports and Recreation industry.
Financials
- $10 million – The total funding raised by Lucra in this round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lucra | Target Company | Company | A social gamification technology company focused on enhancing brand loyalty and customer engagement. |
| 7GC | Investor | Company | A capital firm that led the funding round for Lucra. |
| SeventySix Capital | Investor | Company | A venture capital firm that participated in Lucra's funding round. |
| Steve Kuhn | Investor | Person | Founder of Major League Pickleball and an investor in Lucra. |
| Giannis Antetokounmpo | Investor | Person | NBA MVP and investor in Lucra, emphasizing the company's potential in sports. |
| Raptor Capital Management LP | PE Firm | Company | Private Equity firm involved in Lucra's funding activities. |
| Ark Invest | Investor | Company | Investment firm involved in Lucra's funding. |
| Simplex Equity | Investor | Company | Investment firm that participated in Lucra's funding round. |
| Arthur Blank | Advisor/Investor | Person | Owner of Atlanta Falcons, part of the advisory and investor network for Lucra. |
| Dennis Wong | Advisor/Investor | Person | Owner of LA Clippers, involved in Lucra's advisory. |
| Donna Orender | Advisor | Person | Former WNBA president, part of Lucra's advisory network. |
| Dave & Busters | Client | Company | One of the hospitality brands leveraging Lucra's gamification technology. |
| Five Iron Golf | Client | Company | Partner brand using Lucra's technology. |
| TouchTunes | Client | Company | Entertainment brand utilizing Lucra's gamification platform. |
| Hollywood.com | Client | Company | Entertainment client partnered with Lucra. |