SeatGeek, who claims to be “the leading ticket search engine,” announced earlier on Thursday that they have raised $35 million in Series B funding, with Accel Partners leading the way among investors. Notable among the list of other investors was Causeway Media Partners, headed by Boston Celtics owner and CEO, Wyc Grousbeck. He was joined by, of all people, Eli and Peyton Manning.
It’s a stunning round of investors, which includes (as mentioned) Grousbeck’s Causeway, the Manning brothers, hip hop legend Nas, Carmelo Anthony’s tech investment fund (Melo7 Tech Partners), Stanford University Athletics, former Duke basketball starts Shane Battier and Mike Dunleavy Jr., and Seattle Mariners co-owner, Rob Glaser.
The online ticket sales company, which allows costumers to find virtually any tickets to sporting events, live shows, and concerts that they want, has grown in leaps and bounds, especially lately. According to the announcement from the company, they’ve recorded a 50 percent increase in sales during the month of August compared with July (they’re on pace to exceed $13 million in monthly revenue). SeatGeek also said that they expect to make more than $160 million in ticket sales in the entire year of 2014.
A main component of what SeatGeek plans to do with the new funding is an expansion of the mobile platforms. Given the interest of sports and music fans who are trying to find seats while on the go, it seems like a logical development for the company, which was launched in September 2009. They’ve disclosed that 70 percent of their users are utilizing the service form their phones, and mobile usage has increased an astounding 70 percent per month.
Grousbeck, one of the round’s prominent investors (via Causeway), described his feeling about the company, noting:
The sports and entertainment marketplace is on the cusp of a massive transformation driven by improved technology that enhances the fan experience. In the realm of web and mobile ticketing, SeatGeek is already a leader, and I believe it is very well positioned to shape the industry going forward.
This mixes with what the Celtics have been doing lately in TD Garden. The latest round of renovations, which BostInno got to explore back in June, showed a serious upgrade being made in fan-friendly wifi, which will become a much more powerful network when the additions are finished.
Screenshot via SeatGeek
