Lockerz Funding Rolls to $45 Million

By Kenna McHugh Comment

Lockerz, a fairly new social shopping network, just raised a big new round of funding. The Seattle based company has already closed $30 million with another round bringing the total amount of funding as high as $45 million. The news first leaked out through a regulatory filing noticed by GeekWire, and confirmed by Lockerz spokesperson via email, according to SocialBeat.

Seattle-based Lockerz is a social shopping experience targeting teens no older than 19. The users are rewarded with points for making friends, playing and shopping. The points are redeemed through purchases with discounts.

The possibility of raising more funds means the three-year-old company has already had a lot of success. The earlier $30 million came from high-profile investors like Kleiner Perkins’ sFund and Liberty Media. Last February it was reported to have 18 million members in 195 countries, and has eight original Web video series in production for 2011, one of which was launched last week. It has 73 employees, and nabbed Plixi, a photo-sharing site.

The company’s founder, Kathy Savitt, started the company at age 45, and says her passion is with Generation Z, kids born between 1992 and today, who haven’t reached the age of 20 yet. Although, I don’t know what will happen to them when they turn 20.

SocialBeat also reports that, according to GeekWire, Lockerz now welcomes 45 million unique visitors per month, and the next round will make the social shopping site much more capable of expanding it’s market even more.