Giannis Antetokounmpo Backs Software Startup Lucra
LUCRA SECURES $10M IN FUNDING TO BUILD THE FUTURE OF LOYALTY PROGRAMS
December 5, 2024 - New York, NY - Lucra, an emerging market leader in social gamification technology, today announced it has raised $10 million led by 7GC, SeventySix Capital, Steve Kuhn, and NBA MVP Giannis Antetokounmpo, alongside a who’s who of professional team owners and athletes. Additional prominent investors and advisors in the company include professional team owners Marc Lasry (ex-Milwaukee Bucks), Arthur Blank (Atlanta Falcons), and 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.
Lucra was born out of a desire to track friendly side bets in everyday experiences—whether it was a game of pickup basketball, darts, or ping pong. Founded by Stanford Graduate School of Business classmates, the platform reimagines how casual sports fans and friends engage by offering a social, gamified experience that seamlessly integrates into a brand’s existing platform. Since its 2022 launch, Lucra has grown into a customizable B2B solution, helping clients retain customers, track funds, and enhance loyalty programs with white-label social gaming features—all while delivering fun and interactive user experiences.
Today, Lucra’s technology powers gamified experiences for the world’s largest hospitality and entertainment brands, by partnering with trailblazing companies like Dave & Buster’s, Five Iron Golf, TouchTunes, and Hollywood.com. By bridging the gap between traditional loyalty programs and tech-enabled social experiences, 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: 96 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 gamified experiences are 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.
“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,” added NBA MVP and Lucra investor Giannis Antetokounmpo. “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 technology provider of social gamification services. 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 & funds inside your ecosystem, allowing clients to drive incremental traffic, increase dwell time, and unlock new revenue streams. For more information, visit lucrasports.com.
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