O’Melveny Advises Looped on $7.7 Million Seed FinancingMarch 04, 2021
FOR IMMEDIATE RELEASE
SILICON VALLEY—March 4, 2021—O’Melveny represented Looped, a virtual venue and technology solutions platform for the creator community, in the completion of a $7.7 million seed preferred stock financing. Looped’s offerings position the company at the forefront of the creator community by providing seamless in-platform experiences, custom fan interaction and engagement, and monetization capabilities not found anywhere else. The funding will be used to expand the company’s technology assets. Looped has raised $8.8 million in total.
The company, which was founded in October 2019, has welcomed more than 300,000 superfans and 1,000 creators on its platform. Creators have included 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, the original cast of Hamilton, and many more.
The financing round was led by Will Ventures and was joined by Rocketship VC, Alpaca VC, Forefront Venture Partners, HOF Capital, Toy Ventures, Intuition Capital, Predictive VC, Ketch Ventures, and over 90 angel investors.
The O’Melveny team advising Looped on this transaction was led by O’Melveny Corporate partner Warren Lazarow and included partner Brian Covotta as well as associate Amit Itai.
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Looped’s interactive streaming technology, production, and ticketing solutions provide creators with a world-class virtual venue to seamlessly host their events. Looped connects fans from around the world to attend these events and customizes their experience with one-of-a-kind offerings such as front row seats, backstage passes, and co-viewing suites. During Looped’s events, fans have access to interactive features such as global chat rooms and live polling, allowing for audience participation directly with creators. To date, more than 300,000 fans and 1,000 creators have united on Looped. Learn more at www.loopedlive.com and on social media @loopedlive.
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