West Chester-based LifeBrand, a social media auditing startup, is wrapping up an oversubscribed Series A round that will net the company $27 million and increase its value to $110 million, writes Kennedy Rose for The Philadelphia Business Journal.
The Series A will most likely close in February, said Jemma Barbarise, LifeBrand’s co-founder and chief operating officer. She said that the company was originally planning a $20 million Series A.
Barbarise did not disclose the identities of the investors. The company’s previous investors include Juno Captal’s Mikal Harden and Vicki Sack.
Prior to this latest funding round, the startup had an oversubscribed $2 million seed round last year.
LifeBrand was founded in 2018 by CEO T.J. Colaiezzi. Since then, the company has scored several major partnerships with local sports teams, including the big three: 76ers, Eagles, and Phillies.
Additionally, an endorsement deal provided Eagles wide receiver DeVonta Smith with equity in the company.
“It’s just been wild to see how the company has grown like wildfire, not only among laypersons like you and I, but among people who truly can bring credibility to the space,” said Barbarise.
Read more about LifeBrand in The Philadelphia Business Journal.