Serena Williams-Backed Kids’ Social Network Zigazoo Raises $17M In Funding
Children’s social media platform Zigazoo has raised $17 million in Series A funding. Liberty City Ventures led the funding round, which included the National Basketball Association (NBA), Causeway Capital Management, Dapper Labs, OneFootball, Medici VC, Animoca Brands, and Lightspeed Venture Partners.
Zigazoo, founded by Zak Ringelstein in 2020, has become one of the leading platforms for children’s short-form videos. The digital program, which has recently launched a non-fungible token (NFT) collection, aims to provide children with a safe and positive community where they can find joy, develop healthy online relationships, and aspire to reach their highest potential.
The NFT education online platform is a top-rated app in the App Store. The digital platform provides the tools to make screen time and online consumption healthier and joyful for all families worldwide. Although there is no in-app space for comments, educators can build a system for giving feedback to students while strengthening their learning skills. The home version also has in-app purchases that now let kids trade NFTs.
In 2021, the social media app raised $4 million in investment funding from Serena Williams’ investment firm, Serena Ventures. Shortly after this, Zigazoo launched its first NFT digital animation studio.
The animation studio, Invisible Universe, is well-known for inventing Qai Qai, a character based on Serena Williams’ daughter’s real-life doll.
“We’re educators and parents who’ve been trying to make the world a better place for kids through technology, and we are now the largest and safest social network for kids in the world,” said Zak Ringelstein, founder and CEO of Zigazoo, in an interview with Refresh Miami.
“Our Zigazooers aren’t just watching something or playing something. They are creating their content. They are responding to challenges from the NBA or from Moonbug or from other kid creators and talent. We’re giving them more and more tools to not only build out their channels but also build out their art collections and build out their ability to be creators.”
According to Crunchbase, Zigazoo has raised $25 million in venture capital funds. The extra funding will allow Zigazoo to move their startup organization to the metaverse by creating “a Web3 vision that empowers kids as creators.”