The virtual venue for meet-ups and live streaming, Looped, has completed a USD 7.7 million seed preferred…
The virtual venue for meet-ups and live streaming, Looped, has completed a USD 7.7 million seed preferred stock financing.
Looped will use the financing to grow its technology assets. To date, the company has raised a total of USD 8.8 million.
O’Melveny & Myers acted for Looped on the seed financing round, which was led by early-stage venture capital firm in the health and wellness, media and consumer industries, Will Ventures.
In a social media post on 2 March, Will Ventures commented that Looped “is changing the game for the global creator community”.
Over 90 angel investors were involved in the financing, as well as early-stage venture capital firms Rocketship VC, Alpaca VC, Ketch Ventures and Forefront Venture Partners, technology-focused investment firm HOF Capital, early-stage venture fund Toy Ventures, London-based investor Intuition Capital, and early and growth stage investment company Predictive VC.
Looped, founded in 2019, has 1,000 creators on its platform. Creators have included celebrities Billie Eilish, Shawn Mendes, BTS, Kevin Durant, Aaron Rodgers, Russell Wilson, Lamar Jackson, Baker Mayfield, Lin-Manuel Miranda, Usher, Sam Smith, Charlie Puth, Khalid, Dua Lipa, and the original cast of Hamilton, among others.
O’Melveny corporate partner Warren Lazarow led the advisory team, which also included partner Brian Covotta as well as associate Amit Itai.
The firm has acted on a number of notable transactions in recent times, including supply chain management software company ArrowStream’s acquisition by Tailwind Capital in December, and special purpose acquisition vehicle SportsTek’s upsized initial public offering on the NASDAQ last month.
Other news this week includes the formation of a joint venture between three companies to create an electronic bond trading platform in Asia, Luna Labs’ acquisition by an Israeli software company backed by CVC Capital Partners and Carmel Ventures, and KKR’s sale of a United Kingdom real estate portfolio to Greystar Real Estate Partners for GBP 291 million.