What if you opened your high-school locker to find $36 million inside? I’d probably skip biology. Lockerz, an interactive eCommerce company, did receive that cash. It plans to use the proceeds to win the attention of Generation Z.
The $36 million third round came from new comers Live Nation Entertainment, DAG Ventures and existing investors Kleiner Perkins and Liberty Media.
“Incentives” and “gamification” have been thrown around recently to describe advertising initiatives that lure interaction by promising rewards. A lot of this type of interactivity stems from the desire to get more ad revenue and specific brand exposure. Companies like CrowdTap and SupersonicAds, which both received funding recently, perform this sort of ad incentive. Lockerz puts a twist on this idea. Lockerz targets one audience, Generation Z, and offers a varied market place for 13-to-30 year olds.
“Lockerz’ goal is to offer anything our Gen Z customers might want to buy online,” a Lockerz spokesman told Venturebeat.
Site visitors rack up points by watching music videos, uploading photos and answering “dailies”, or polls. Points (or PTZ, in Lockerz-speak) can be used to buy watches, concert tickets, DVDs, apparel and more in addition to localized deals. Lockerz said that Xbox 360, Nintendo DS, PlayStation 3, Jules Smith, Original Penguin, Rock & Republic and 7 for All Mand Kind were some of its more popular offerings.
In addition to the funding from Live Nation, Lockerz said it’s partnering with the company to offer concert tickets. In its summer concert series, Lockerz showcases Britney Spears, Blink 182 and Lil’ Wayne tickets.
The funding will be used to expand Lockerz’ engineering team in addition to unnamed product development and site features.
Lockerz was founded in 2009 and has 65 employees located in Seattle, San Francisco and San Diego. The company has received $66 million in funding from DAG Ventures, Kleiner Perkins, Liberty Media and Live Nation Entertainment.