– Led by 7GC, SeventySix Capital, Steve Kuhn, with participation from NBA MVP Giannis Antetokounmpo, amongst others. Lucra’s Funding Will Power an Expanded Product Offering and its Launch into New Markets

December 05, 2024 10:20 AM Eastern Standard Time

NEW YORK–(BUSINESS WIRE)–Lucra, an emerging market leader in social gamification technology, today announced it has raised $10 million from 7GC, SeventySix Capital, Steve Kuhn (Founder of Major League Pickleball), alongside NBA MVP Giannis Antetokounmpo, Ark Invest, Simplex Equity, and a who’s who of professional team owners and athletes. Additional prominent investors and advisors in the company include professional team owners, Arthur Blank (Atlanta Falcons, AMBSE Ventures), Dennis Wong (LA Clippers), former WNBA president Donna Orender, tennis champions John Isner and James Blake, NFL players Zach Ertz and Emmanuel Sanders, and more.

“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”Post this

Lucra was born out of a desire to track friendly side bets of everyday competitions—from playing golf, darts or video games to watching basketball, football, etc. with friends. Founded by Stanford Graduate School of Business classmates, the platform reimagines how casual sports fans and friends engage by adding a social, gamified experience to a brand’s existing platform. Since its 2022 launch, Lucra has grown into a customizable B2B solution, helping clients to retain customers, track funds, and enhance their loyalty programs by adding Lucra’s white-label, social gaming features.

Today, Lucra’s technology creates gamified experiences for the world’s largest hospitality and entertainment brands, including companies like Dave & Buster’s, Five Iron Golf, TouchTunes, and Hollywood.com. By bridging the gap between traditional loyalty programs and friendly wagering, Lucra enables brands to keep the fun—and the funds—within their ecosystems. Its tools for tracking customer behavior, rewarding engagement, and integrating gaming features have proven impactful: 94 percent of money wagered stays within client ecosystems, driving significant engagement and revenue growth for its partners.

“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,” said Dylan Robbins, CEO of Lucra. “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.”

Lucra plans to use the 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. As the global demand for gamified loyalty solutions rapidly grows, the funding will also fuel Lucra’s international market expansion.

As part of this funding round, Lucra is thrilled to welcome NBA MVP Giannis Antetokounmpo into its investor base.

Giannis shared his excitement recently, noting: “Growing up, I always strived to compete in everything. Since stepping into the NBA, I’ve realized just how integral technology has become in enhancing the experience of watching live sports and enjoying casual games. My investment in Lucra reflects my belief in its potential to shape the future of fandom—leveraging technology to bring fans and friends closer together. Every team, entertainment entity, and hospitality brand can truly benefit from Lucra’s innovative approach to enhancing engagement and adding excitement to their platforms.”

About Lucra
Lucra is the leading provider of social gamification technology for consumer platforms. Its aim is 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 technology facilitates low-to-no stakes competitions for cash, credit, or coupons to create a gamified loyalty experience for customers. Lucra helps to keep the fun and funds inside your ecosystem, allowing clients to drive incremental traffic, increase dwell time, and unlock new revenue streams. For more information, visit lucrasports.com.

Contacts

Media
Michael Madding
Chief Operating Officer
Lucra
michael@lucrasports.com

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