As fan experiences continue to go digital, virtual-venue platform Looped announced its $7.7 million seed round Tuesday. The round is led by Will Ventures, with other backers including Lakers partnerships executive Erika Singal and Buccaneers defensive tackle Ndamukong Suh.
Looped was co-founded by Pranav Maddi, Benjamin Kornick, Prajit Gopal and Sandeep Peddada and launched in October 2019 before gaining traction during the COVID-19 pandemic. The company’s platform allows celebs to offer paywalled video events as well as more expensive meet-and-greets with fans, with Looped taking a percentage of event revenue. Events can include merchandise drops, chats and interactive elements, as well as co-viewing “suites” for attendees.
“We built Looped as a world-class platform for creators to best produce, interact with and monetize their digital events and programming,” Looped co-CEO Faisel Durrani said in a statement. It has hosted more than 1,000 personalities, ranging from Lin-Manuel Miranda and Bad Bunny to New York Gov. Andrew Cuomo, and athletes like Kevin Durant and Aaron Rodgers. According to Looped, more than 300,000 fans have tuned into events on the platform.
“[Looped’s] focus on product innovation sets them apart, and it’s enabled them to establish industry-leading talent, partners and traction,” Will Ventures managing partner Brian Reilly said in a statement. “Their products will change how creators engage with their fans by increasing access and facilitating authentic connections. We’re excited to support Looped in their mission to bring creators closer to their fans all over the world.”
Other investors include Rocketship VC, Alpaca VC, Forefront Venture Partners, HOF Capital, Toy Ventures, Intuition Capital, Predictive VC, Ketch Ventures, as well as dozens of strategic angel investors.