Total amount raised
$1.2 Billion
Latest funding date
08/01/2022
Location
Title
SeatGeek has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform specializes in providing a seamless experience for buying and selling tickets to a variety of events.
Keep reading to explore the intricacies of SeatGeek's fundraising journey and the investors backing this innovative platform.
What Is SeatGeek?
SeatGeek, founded in 2009 by Jack Groetzinger and Russell D'Souza, is headquartered in New York City. The company specializes in providing a user-friendly platform for buying and selling tickets to live events, including sports, concerts, theater, and comedy shows.
With a focus on enhancing the ticket purchasing experience, SeatGeek integrates features like event discovery, price comparison, and mobile ticketing. The platform also offers personalized recommendations by connecting with users' Spotify accounts.
SeatGeek has grown significantly since its inception, employing over 500 people who are dedicated to making live event ticketing more accessible and enjoyable for everyone.
How Much Funding Has SeatGeek Raised?
- Series A
- Amount Raised: $2.12 million
- Motivation Behind the Round: Initial funding to support the launch and growth of SeatGeek.
- Series B
- Amount Raised: $35 million
- Date: August 28, 2014
- Lead Investors: Accel Capital
- Motivation Behind the Round: To accelerate mobile app development and scale marketing efforts.
- Series C
- Amount Raised: $62 million
- Date: April 2, 2015
- Lead Investors: Technology Crossover Ventures
- Motivation Behind the Round: To support the growth and expansion of SeatGeek's ticket-selling app.
- Series D
- Amount Raised: $57 million
- Date: April 18, 2017
- Lead Investors: Glynn Capital
- Motivation Behind the Round: To finance the acquisition of TopTix and expand the SeatGeek Open platform.
- Series E
- Amount Raised: $238 million
- Date: August 31, 2022
- Lead Investors: Accel
- Valuation at Round: $1 billion on a pre-money basis
- Motivation Behind the Round: To invest in people, product, and partners, and enhance the Rally platform.
Total Amount Raised: $394.12 million
Current Valuation: $1 billion
Key Investors
- Accel
- Details: Accel is a prominent venture capital firm known for its investments in early and growth-stage technology companies. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology companies, early and growth-stage investments.
- Notable Investments: Facebook, Dropbox, Slack.
- Wellington Management
- Details: Wellington Management is a global investment management firm that offers a broad range of asset management services. They manage over $1 trillion in client assets.
- Investment Focus Areas: Public and private equity, fixed income, multi-asset, alternative investments.
- Notable Investments: Airbnb, SpaceX, Robinhood.
- Technology Crossover Ventures (TCV)
- Details: TCV is a venture capital firm that focuses on investing in technology companies. They have a history of supporting high-growth companies in the tech sector.
- Investment Focus Areas: Technology companies, particularly in the mobile marketplace sector.
- Notable Investments: Netflix, Facebook, Spotify.
- Glynn Capital
- Details: Glynn Capital is a growth-stage investment firm that focuses on technology companies. They aim to support companies through their growth phases.
- Investment Focus Areas: Growth-stage technology companies.
- Notable Investments: Not publicly disclosed.
- Arctos Sports Partners
- Details: Arctos Sports Partners is an investment firm that specializes in sports franchises and sports-related businesses. They provide capital and strategic support to their portfolio companies.
- Investment Focus Areas: Sports franchises, sports-related businesses.
- Notable Investments: Various sports teams and sports-related enterprises.
What's Next for SeatGeek?
SeatGeek's future is brimming with opportunities, particularly in enhancing its Rally platform and expanding its consumer marketplace. With a $238 million Series E funding round, the company is well-positioned to double its revenue and grow its enterprise ticketing software. The acquisition of TopTix further strengthens its backend solutions, allowing sports teams and venues to sell tickets directly, which could significantly increase market share.
Future fundraising seems likely as SeatGeek continues to innovate and expand. The successful Series E round and strategic acquisitions suggest potential for additional rounds to support technological advancements and market expansion. However, challenges such as competition from other ticketing platforms and maintaining service quality during rapid growth could pose hurdles. Adapting to industry trends and ensuring a seamless user experience will be crucial for sustained success.
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