Foley & Lardner LLP represented New Enterprise Associates, Inc. (NEA) as co-lead investor in the $25 million Series B Funding for Fizz, the Gen Z-founded social media platform exclusively available for college students. The round was co-led by Owl Ventures.
Fizz has created a safer, private, and more engaging digital space to encourage Gen-Z social media users to be their authentic selves and share content about what it’s like to be a college student. The campus-focused model creates private communities for each school, so scrolling through Fizz is not only fun and entertaining, but it allows students to form connections with classmates they may not otherwise cross paths with.
The funding from this round will help Fizz continue the expansion of its authentic and community-centric social media app to more colleges and universities nationwide.
New Enterprise Associates, Inc. is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. Founded in 1977, NEA has over $25 billion in assets under management as of March 31, 2023, and invests in technology and health care companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions.
The Foley Team was led by partner Louis Lehot and senior counsel Alicia D’Alba Dorner and included associates Saige Gallop and Cayman Weimer.