Kid-Safe Social Network Zigazoo Announces $17M Series A Financing
Gunderson Dettmer represented client Zigazoo, a kid-safe social networking platform, in its $17 million Series A financing led by Liberty City Ventures which included participation from the NBA, Dapper Labs, OneFootball, Medici VC, Animoca Brands and Lightspeed Venture Partners. The video-sharing app orchestrates challenges and activities for kids in short clips, allows for sharing of content, and allows users to buy, sell, and trade NFTs. The new capital will be used to develop more creator tools, create a marketplace for digital goods, and expand into augmented reality and the metaverse.
In the announcement of the transaction, Co-founder and CEO of Zigazoo Zak Ringelstein said, “Our Zigazooers aren’t just watching something or playing something. They are creating their own content. They are responding to challenges from the NBA or from Moonbug or from other kid creators and talent. We’re giving them more and more tools to not only build out their channels, but also build out their art collections and build out their ability to be creators.”
The Gunderson Dettmer deal team was led by Brian Patterson and included Jake Winton and Hannah Porter.