Music festival experience firm Festicket has raised $10.5 million in Series D funding.
The funding round is led by venture capital firm Beringea and joined by Jaguar Land Rover’s venture capital fund InMotion Ventures, along with Channel 4’s Commercial Growth Fund, Lepe Partners, U-Start and ex Spinnin’ Records CEO Eelko Van Kooten.
Festicket offers a service to discover and book tickets and travel packages for over 1,200 music festivals.
The company has served over 2 million travellers from 120 countries, has 2.5m registered users and has offices in London (HQ), Amsterdam, Berlin, Porto and San Francisco.
Eyal Malinger, Investment Director at Beringea, will join the Festicket board, along with Treatwell’s Chief Operating Officer, Ben Leaver.
The company will be appointing an independent non-executive chairman in the near future.
Festicket is focusing on expansion into North American and Asian markets and expanding its supply base by offering a broader range of events.
The company will also continue to build its discovery and community network through new marketing channels, including a content and media partnership with Channel 4.
Prior to this round, Festicket had raised $13.7m from investors including Lepe Partners, PROfounders, U-start, Playfair, Wellington and Windcrest.
Festicket also has ex-Booking.com CMO/co-founder Arthur Kosten as an investor and advisor and Jean-Charles Carré, manager of world-famous DJ David Guetta as an investor.
“With this new investment we will be able to accelerate the expansion of our unique business model internationally and to more verticals.”
Zack Sabban, Festicket
Zack Sabban, CEO and co-founder at Festicket said: “With this new investment we will be able to accelerate the expansion of our unique business model internationally and to more verticals.
“Our success so far has been driven by our focus on content, community and commerce, so we will use the same ingredients to become the go-to global brand for live event experiences.”
Jonathan Younes, CPO and co-founder at Festicket, added: “Our product will continue to develop and innovate alongside the business.
“We’ll be launching exciting new features for our community that make discovering and booking live events easier and more intuitive than ever before.”
“Our product will continue to develop and innovate alongside the business.”
Jonathan Younes, Festicket
Eyal Malinger, Investment Director at Beringea said: “Beringea’s investment in Festicket is underpinned by a fundamental shift in global consumer habits.
“Unprecedented demand – particularly among millennial consumers – for experiences over material possessions has fuelled the meteoric rise of ‘festival tourism’.
“Festicket sits at the epicentre of this trend and, as Europe’s largest vendor of festival travel and tickets, it has enabled millions of people to uncover new music, culture, and experiences.
“With millions of monthly visitors to its website, we felt that Festicket is uniquely positioned to help festivals around the world grow and attract new customers.
“Prior to Festicket, discovering and purchasing festival tickets, travel, accommodation and experiences was fragmented, time-consuming, and often restricted only to experienced festival-goers.”
“Prior to Festicket, discovering and purchasing festival tickets, travel, accommodation and experiences was fragmented, time-consuming, and often restricted only to experienced festival-goers.”
Eyal Malinger, Beringea
Vinay Solanki, Head of Channel 4’s Commercial Growth Fund said: “Channel 4 has innovation, music, and young audiences in our DNA so we are delighted to become part of Festicket’s journey.
“Festicket is already a very high growth company and has very attractive further growth potential with the benefit of Channel 4’s comprehensive national reach.”
Sebastian Peck, Managing Director, InMotion Ventures, added: “Our investment in Festicket reflects our belief that premium mobility is about adventures and experiences that people love for life.
“The festival industry is a tangible manifestation of this desire, and we want to help make it easier for every future festival goer to create everlasting memories.”Music Business Worldwide
