April 2nd, 2015
April 2, 2015 (New York, NY) – SeatGeek, the leading mobile platform for sports and concert tickets, today announced that it has raised a $62 million Series C financing round led by Technology Crossover Ventures (TCV). Previous SeatGeek investors including Accel, Causeway Media Partners and Mousse Partners also participated in the round.
Additionally, TCV General Partner Daniel O’Keefe will join the company’s board alongside company founders Jack Groetzinger and Russ D’Souza, David Frankel of Founder Collective and John Locke of Accel.
“The way people buy tickets is changing, thanks to mobile,” said Jack Groetzinger, founder of SeatGeek. “SeatGeek builds products that facilitate that change. We have ambitious goals; I’m confident that TCV will help us achieve them, and I am thrilled to be partnering with Dan.”
SeatGeek has emerged as a top consumer destination for live entertainment tickets since its launch in September 2009. An award-winning mobile-first user experience, unique features like interactive stadium maps and the company’s Deal Score algorithm have helped drive substantial revenue growth.
Much of SeatGeek’s rapid growth in recent months has come from success on mobile platforms. SeatGeek’s mobile applications for iPhone, iPad and Android have been downloaded over 3 million times, and over 60% of SeatGeek users now access the service via a mobile device. Additionally, the company has been one of the earliest adopters of new mobile payment technologies, including Apple Pay.
“We have been long-standing investors in the event ticketing space, and SeatGeek is the most exciting company in that market we have seen in years,” said TCV General Partner Daniel O’Keefe. “SeatGeek’s mobile leadership and product have created what we think is the best consumer experience available, and the company’s vision for the future is all the more compelling. We are proud to partner with the team to help make that vision a reality.”
The latest round brings the total investment in the company to $103 million. The newly raised capital will be used primarily to expand SeatGeek’s consumer marketing efforts in North America and increase the size of the SeatGeek team from its current total of 64 employees to a target of over 110 by the end of 2015.
SeatGeek (http://www.seatgeek.com) is the leading ticket search engine that enables fans to quickly and easily discover the best deals for sports, concert, and theater events. The company’s interactive stadium maps, Deal Score™ and forecasting technology provides fans with the buying intelligence needed to find the best prices from trusted secondary ticket markets and alerts them of the ideal time to purchase tickets. Founded in 2009, SeatGeek is a venture-backed company based in New York City.
About Technology Crossover Ventures
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 20 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, HomeAway, Netflix, NewVoiceMedia, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.