UK-based festival ticket and travel booking platform Festicket has secured funding of $4.6 million from Edge Investments.
Festicket’s latest investment follows the $10.5m series D funding round it closed in 2018, led by transatlantic venture capital firm Beringea.
Investment Director David Fisher led the investment from Edge, alongside Investment Manager Josh Burge.
Festicket partners with festivals to provide standard and VIP packages that combine accommodation, transfers and admission for festivals worldwide. It has four additional offices in the EU and US.
Founded by Zack Sabban (CEO) and Jonathan Younes (CPO), the management team has since been bolstered by a series of senior executive hire from companies such as Live Nation, Eventbrite, and Channel 4.
Festicket works with more than 2.5 million customers, over 1,200 festivals and 4,500 suppliers across 50 countries.
Edge’s investment will support Festicket’s entrance into new markets, primarily the US and Asia, as well as development of its technology platform.
“What attracted me to Festicket was its talented and committed management team.”
David Glick, Edge Investments
Edge Investments Founder and CEO David Glick said: “What attracted me to Festicket was its talented and committed management team.
“Zack (Sabban) and Jonathan (Younes) have an almost telepathic bond, and in common with the best entrepreneurs they know why they are building Festicket into a huge business, solving an everyday millennial pain-point by streamlining, personalising and curating thousands of live experiences for millions of customers.”
“The experience, events and festival markets continue to grow exponentially and Festicket is strategically positioned to benefit from these combined trends as a horizontally integrated platform.”
David Fisher, Edge Investments
Edge Investments Director David Fisher said: “We are excited to partner with such a fast-growing company.
“The experience, events and festival markets continue to grow exponentially and Festicket is strategically positioned to benefit from these combined trends as a horizontally integrated platform. We are delighted to support them on their journey.”
“Edge has a unique network and wide music industry knowledge, as well as an excellent understanding of our approach to content and community – a crucial ingredient in our growth recipe.
Zack Sabban, Festicket
Festicket CEO Zack Sabban commented: “We welcome this new investment from Edge at a really important time for Festicket.
“Edge has a unique network and wide music industry knowledge, as well as an excellent understanding of our approach to content and community – a crucial ingredient in our growth recipe.
“The investment team are very passionate about our business and they believe in and understand our mission and business model. It feels like a perfect match.”Music Business Worldwide
