Ark Invest Leads First Startup Deal With $20 Million Investment In Lucra
ARK Invest led a $20 million Series B investment in Lucra, a company that provides a software platform for gamified loyalty programs. The investment was ARK's first lead startup deal, marking a shift in the firm's venture strategy.
ARK Invest has led its first-ever startup funding round with a $20 million Series B investment in Lucra. The round was led by ARK's Venture Fund, an SEC-regulated interval fund. Lucra provides a software platform that transforms corporate loyalty programs into competitive, game-like experiences. The company's customers include Five Iron Golf, Chess Kings, and Dave & Buster's. ARK's investment approach was shaped by its prior experience with Skillz, a company in a related space that faced operational and legal challenges. Other participants in the round include Alumni Ventures, Astralis Capital, and Harlo Equity Partners.
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