Virtual events platform Looped has closed its seed funding round, bringing its total investment to $7.7m.
Looped’s financing is led by Will Ventures, with participation from Rocketship VC, Alpaca VC, Forefront Venture Partners, HOF Capital, Toy Ventures, Intuition Capital, Predictive VC, Ketch Ventures, and more than 90 strategic angel investors.
Looped was founded in 2019 and says that it has since hosted more than 300,000 fans and 1,000 creators including Billie Eilish, Shawn Mendes, BTS, Kevin Durant, Aaron Rodgers, Russell Wilson, Lin-Manuel Miranda, Usher, Sam Smith, Charlie Puth, Khalid, Dua Lipa, Luke Bryan, Bad Bunny, Maluma, Diplo and others.
Looped’s app gives participants access to real-time fan widgets including merch, polling, games, a global chat, and ‘backstage’ capabilities for one-on-one video chats directly with creators.
Most recently, Looped says that it launched new technology to power the 2021 Gotham Awards by creating co-viewing suites for attendees during the virtual event.
Looped has also just hired long-time music executive Faisel Durrani as Co-CEO.
In this role, Durrani will oversee Looped’s strategic initiatives, new business opportunities, marketing strategies and talent relationships.
Durrani has held leadership positions including EVP of International Marketing at Island Def Jam and President of Marketing & SVP of Global Touring Live Nation.
His most recent role was GM & EVP of Def Jam Recordings.
Amongst Looped’s Angel investors are President of Live Nation Urban & Maverick Management Partner Shawn Gee, Blueprint Group Co-CEOs & Maverick Management Partners Gee Roberson & Cortez “Tez” Bryant, Grammy-winning Singer and Songwriter Jill Scott, Grammy-winning Musician and Entrepreneur Ahmir “Questlove” Thompson, Backstreet Boys member AJ McLean, and Grammy-winning lead MC of hip-hop group The Roots, Tariq “Black Thought” Trotter.
“We are excited to see our new strategic partners share in our vision for the future of live and interactive programming for the creator community.”
Faisel Durrani, Looped
Faisel Durrani, Co-CEO of Looped, said: “We built Looped as a world-class platform for creators to best produce, interact with, and monetize their digital events and programming.
“We are excited to see our new strategic partners share in our vision for the future of live and interactive programming for the creator community.”
“In a crowded virtual venue market, Looped clearly stands out from the pack.”
Brian Reilly, Will Ventures
Brian Reilly, Managing Partner at Will Ventures, added: “In a crowded virtual venue market, Looped clearly stands out from the pack. Their focus on product innovation sets them apart, and it’s enabled them to establish industry-leading talent, partners, and traction.
“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.”
“This type of intersection between media and technology is the way of the future.”
Gil Goldschein
Gil Goldschein, Former CEO of Bunim/Murray Productions, said: “I have always been driven by innovation. The underlying technology combined with audience interactivity built by the team at Looped forms a truly impressive media platform.
“This type of intersection between media and technology is the way of the future.”
“Looped is an absolute game changer.”
AJ McLean
AJ McLean said: “Looped is an absolute game changer. It provides so many great opportunities for artists to connect with fans while they’re off the road, and to create new hybrid experiences while touring as well.
“This platform is going to be a staple in fan interaction for many years to come.”Music Business Worldwide