Ticket marketplace TickPick has secured a $40 million investment from PWP Growth Equity, marking the 8-year-old company’s first-ever institutional funding round.
Launched in 2011 by college roommates Brett Goldberg and Chris O’Brien, TickPick began as as a secondary marketplace for ticket resellers, but has since expanded into primary ticketing, working directly with the likes of Firefly Music Festival and Riot Fest.
Goldberg and O’Brien told TechCrunch that their company is on track to facilitate $200 million worth of transactions in 2019, a 60% increase year-over-year. They also said that the company’s calling card — no hidden fees — is what singles TickPick out from competitors.
While TickPick still makes money from fees, all fees are included in the up-front price, instead of appearing as a surprise at checkout.
TechCrunch also reports that TickPick plans to boost its team with hires like a chief financial officer and chief marketing officer, along with building a data team to incorporate artificial intelligence into the platform.
Last summer, TickPick landed a partnership with legendary wrestler Ric Flair, and acquired ticket aggregator Rukkus along with secondary marketplace Razorgator.