Loot Crate announced its $18.5 million Series A funding round, lead by Upfront Ventures, with participation from Breakwater Investment Management, Time Inc., Downey Ventures, M13, and SterlingVC.
Loot Crate offers its consumers themed mystery boxes each month tailored around leading entertainment and pop culture franchises. Each box offers four to seven curated product and content that ranges from collectible figurines, comic books, apparel, and Loot Crate-exclusive items.
Since launching in 2012 with $25,000 in seed funding, Loot Crate’s revenues have grown to more than $100 million annually and more than 600,000 monthly subscribers worldwide. The company currently services 35 countries, including the UK, which has become its second-largest market and where the company will be opening secondary offices this summer.
