New York based international ticketing platform TodayTix has bagged a $73 million fresh funding led by private equity firm Great Hill Partners. The current investment round takes the total amount raised by the firm to $88.7 million.
Prior to this round, the company had last raised a $9 million in Series B round in 2016 which was co-led by TYLT Ventures and Walden Venture Capital. The other backers of the firm include the names like SF Capital Group, Rubicon Venture Capital, Link Ventures, Jeremy Zimmer, Danny Meyer, Nicolas Jammet, Jessica Verrilli and others.
The company was launched in 2013 by Brian M. Fenty and Merritt F. Baer as a last-minute theater ticket seller, quite similar to New York’s TKTS booths where one used to get the discounted tickets. The platform currently has a presence in cities like New York, L.A., Chicago, San Francisco, Seattle, London, Toronto, and Sydney and Melbourne across the globe where it has partnered with more than 1300 venues.
Fenty, the CEO of the company talking about the firm through a press release said, “By understanding the ways next-generation audiences purchase and experience shows, we can forever change the way people discover art in their cities. Our audiences, married with a community of visionary content creators, establish an unprecedented ecosystem of engagement between the two sides of live entertainment. While ticket sales are the bedrock of our relationships, these are only the beginning of our content and discovery ambitions.”
Michael Kumin, the managing partner at Great Hill Partners commenting on the deal said, “TodayTix is rapidly changing the way millennials and other consumers connect with live cultural experiences. We look forward to working with Brian, Merritt and their talented management team to expand the Company’s product and service offerings and accelerate its push into new geographies.”
Image Courtesy : TodayTix