Ticketfly Raises $50 Million
The company closes its fourth round, to help fund a "moment of disruption."
Standing still is not an option in the cutthroat ticketing business. Ticket purchasing platform Ticketfly announced Wednesday it closed a $50 million Series D funding led by private equity firm Riverwood Capital. In addition to product development, the money will be used for a move into larger facilities "and into adjacent verticals," according to the press release.
Previous investors include SAP Ventures, Northgate Capital, Cross Creek Capital and Mohr Davidow Ventures. San Francisco-based Ticketfly has now raised $85 million for what CEO Andrew Dreskin calls "a once-in-a-lifetime moment of disruption" in ticketing and live events.
“Ticketfly is giving the events industry the shake up it needs -- and I’m not just talking about ticketing,” said Jeff Parks, founding Partner of Riverwood Capital in a statement, referring to Ticketfly's efforts to build tools for both clients and fans into its cloud-based platform.
Ticketfly's funding is typical of the money that's flowed into the ticketing space. Last year Eventbrite raised $60 million at $1 billion valuation. Earlier this year, Live Nation bought Front Gate Tickets and DIY ticketing platform Universe. SeatGeek, a search engine for secondary tickets, raised $62 million in April. Gametime, an app that finds last-minute tickets to sporting events, raised $13 million in May.