NBA MVP Giannis Antetokounmpo Backed Lucra Announces $10M Financing

Gunderson Dettmer represented client Lucra, an emerging market leader in social gamification technology, in its $10 million financing from 7GC, SeventySix Capital, Steve Kuhn (Founder of Major League Pickleball) and NBA MVP Giannis Antetokounmpo.

Lucra aims to bring offline competitions online, and to create a safe, trustworthy and trackable experience for consumers and clients. Delivered via a white-label, native Software Development Kit (SDK), clients are able to embed Lucra’s gamification engine directly into their mobile app or website. The company will use the new capital to accelerate product development, including the launch of a free-to-play game tailored for sports bar chains and professional teams, and new features that include social tournaments and alternative currencies.

In the announcement of the transaction, Lucra CEO Dylan Robbins said, “Since evolving from a direct-to-consumer model to a B2B offering, Lucra has signed nearly 20 partnerships this year alone, and earned the trust of major hospitality and entertainment brands. Our plug-and-play gaming technology is reshaping how brands interact with their customers—driving revenue through boosted engagement and repeat visitation—while creating new ways for customers to connect and compete. The success of our ‘sportainment’ partnerships validates our model, and this funding will enable us to accelerate growth and reach more markets worldwide.”

The Gunderson Dettmer deal team was led by Nic Markman and included Joe McGinley and Kevin Mann.

Companies
Lucra