Ticketfly Secures $12 Million in Series B Financing to Fund Expansion of Social Ticketing Platform
SAN FRANCISCO, CA -- ( April 19, 2011)
* Ticketfly, the fastest growing social ticketing company in the U.S., today announced $12 million in Series B funding, bringing Ticketfly's total capital raised to $15 million.
* The round was led by Mohr Davidow Ventures with participation from existing investors, including High Peaks Venture Partners, Contour Venture Partners and angel investors Roger Ehrenberg and Howard Lindzon.
* The proceeds from the financing will make Ticketfly an even greater force in social ticketing and enable the company to accelerate its already meteoric growth.
* Designed for promoters and venues in need of advanced tools to solve multiple, enterprise-level problems, the Ticketfly platform automates the time-consuming tasks associated with event creation and marketing, and provides rich data analytics.
* The financing comes on the heels of the company's release of several industry-leading features including an artist database, with records for over 70,000 artists, and an integrated email marketing module.
* Hundreds of the leading music venues and event promoters in the U.S. have chosen Ticketfly to power their social ticketing needs, including the 9:30 Club, Merriweather Post Pavilion, Outback Concerts, Knitting Factory Entertainment, Baltimore Grand Prix, Monqui Presents, Guerilla Union, The Independent, R5 Productions, Austin City Limits Live, Troubadour and the Brooklyn Bowl.
Attributable to Andrew Dreskin, co-founder and CEO, Ticketfly
Event ticketing is undergoing tectonic change -- there is an appetite for better analytics and integrated technologies that drive the bottom line. It became clear early in our discussions with Mohr Davidow that they share our vision to bring more science and fan engagement to the world of event marketing and promotion. We're delighted to join the MDV family and enlist their expert support as we build the world's leading social ticketing company. We also look forward to many jam sessions with Bill Ericson, who -- by the way -- is a fantastic guitar player.
Attributable to Bill Ericson, General Partner, Mohr Davidow
We partner with entrepreneurs building innovative companies in large markets with passion and deep domain expertise -- both of which are embodied in Ticketfly.
Attributable to Katherine Barr, Partner, Mohr Davidow
We are excited about Ticketfly's disruptive approach to live event ticketing and how the Ticketfly solution is revolutionizing the live event ticketing experience for venues, promoters and fans alike.
Attributable to Tim Neece, General Manager, Austin City Limits
When I looked at what they had to offer, signing up with Ticketfly was a no-brainer. Their system is light years ahead of the competition. Ticketfly saves me time and gives me the features I need to stay competitive -- not just in ticketing, but in overall marketing for my business.
Ticketfly is the leading independent ticketing and social marketing company in the U.S. Ticketfly offers live entertainment venues and promoters fully-integrated ticketing, social marketing, website management and mobile tools, saving them time and money. Ticketfly was created by the team who first brought event ticketing to the web. Recently, Fast Company named Ticketfly one of the Top 10 Most Innovative Companies in Music and Billboard called Ticketfly one of the Five Hot Digital Music Companies to Watch. For more information on Ticketfly, visit www.ticketfly.com. To connect on Facebook, go to www.facebook.com/ticketfly. To follow us on Twitter, via @ticketfly.
About Mohr Davidow:
For more than 25 years, the Mohr Davidow team has invested in early stage startups and worked closely with exceptional entrepreneurs to move innovation forward, and to develop and deliver new, technology-based ideas, products and services. The firm's investments result in companies that transform industries whether through better infrastructure for our rapidly evolving data-intensive digital world, more efficient power for our planet, or better, more personalized medicine. Category-leading companies funded by Mohr Davidow include: Agile (ORCL); AudienceScience; Brocade (BRDC); GridIron Systems; HealthTap; Nanosolar; ONI Systems (CIEN); Rally Software; Recurrent Energy (acquired by Sharp Corporation); Pacific Biosciences (PACB); Panasas; ParAllele (AFFX); ParAccel; Proofpoint; OPXBIO; RainDance Technologies; Rambus (RMBS); Rocket Fuel; RootMusic; Shutterfly (SFLY); Visible Measures; and ZeaChem. The firm has $2 billion under management. For more information, visit http://www.mdv.com.