Seattle social commerce startup Lockerz scores massive $30 million round

Kathy Savitt

Last week, Lockerz CEO Kathy Savitt told GeekWire that we’d have to “stay tuned” for news about the company’s future financing plans. Well, that news is starting to leak out. The Seattle social networking company, which targets teens and twenty somethings, has raised $30 million in fresh financing, according to a SEC filing. Investors in the company include former Microsoft CFO Greg Maffei and the Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers. The deal comes amid a serious growth spurt for the 70-person startup, which has been adding top execs and rolling out new offerings.

The filing indicates that the company could raise up to $45 million, and if that occurs it could start to challenge Zillow.com as one of the most heavily-funded consumer Internet companies in Seattle. Lockerz previously raised $30 million. And by comparison, Zillow.com — the Seattle online real estate company — has pulled in a total of $87 million over the years.

Founded by former PR and retail executive Kathy Savitt, Lockerz attracts about 37 million unique visitors each month. The company targets what it calls Generation Z, young teens and twenty somethings who have grown up with social networking technologies.

“We want to be that first place they go to actually be rewarded for their engagement for the stuff they love to do,” Savitt told GeekWire last week. That could include shopping, watching a video or sharing content with friends.

Previously on GeekWire: Lockerz taps former Amazon exec, plans deeper Facebook integration

 

  • Anonymous

    I’m not sure if I fully understand how to use Lockerz. Am I buying things for points or engaging in my social network for points? Anyone?

    • http://www.nosnivelling.com daveschappell

      I don’t think you’re the target cuztomer, Zavan

      • Savan Kong

        Target customer or not, I should know how to use the site. Best of luck to Kathy and the Lockerz team either way. I’ll be keeping an eye on how they use that money. :-)

  • Guest

    Um wow. Kleiner is DESPARATE to get into social. These guys are nobodies.

  • Sdfd

    37 million unique visitors each month? I’m I missing something? Quantcast has their traffic at 10K per month. Is quantcast wrong?

  • Guest

    As a “retail executive,” Kathy Savitt organized Amazon’s philanthropic efforts.