US-based subscription box service Loot Crate has closed an $18.5m series A round backed by media group Time and entertainment company Team Downey, which participated through corporate venturing unit Downey Ventures.
The round was led by Upfront Ventures, with participation from Breakwater Investment Management, M13 and Sterling VC.
Founded in 2012, Loot Crate operates a subscription box service. The company partners with entertainment companies to send a box with four to seven curated pop culture items, such as collectable figurines and comic books, to customers each month.
The company has entered 35 countries to date and counts more than 600,000 subscribers. Loot Crate is aiming to open a second office in the UK this summer, its second largest market.
Loot Crate raised $25,000 in seed funding from unnamed investors in 2012.
Chris Davis, chief executive of Loot Crate, said: “Looters have told us that every month they look forward to unveiling what’s in the boxes we create.
“By continuing to work with leading brand franchises, such as Halo, to re-imagine the fan experience, we know we have just tapped the surface of what possibilities exist to continue to satisfy our Looter community. With this fundraising round, we are excited about the ability to accelerate our innovation with partners and expand our footprint globally.”