Foley & Lardner LLP represented New Enterprise Associates (NEA) as the lead investor in the $12 million Series A funding round for Fizz, a social media app for college students. NEA was joined by additional investors Lightspeed, Rocketship, Owl Ventures, Smash Ventures, and New Horizon.
Fizz is a peer-moderated social media platform exclusively available for college campuses to create hyper-local digital communities where students can communicate about campus life. On the app, students can anonymously share messages, polls, and photos, and classmates can upvote or downvote what they see in their feed. Users can direct message each other, choosing whether to reveal their identity.
The Fizz app launched on 13 campuses and, in less than two months, has expanded to 25 campuses. After this Series A funding, Fizz's goal is to reach 1,000 campuses by the end of 2023.
The Foley team was led by Partner Louis Lehot and included Senior Counsel Alicia D'Alba Dorner and Associates Saige Gallop and Cayman Weimer.