Internet and telecommunications group SoftBank’s Vision Fund 2 led a series C round for UK-based event ticketing platform developer Dice yesterday sized at up to $122m.
The round included Future Shape, Mirabaud Private Equity, Cassius, Blisce, Evolution Equity Partners and private investor Xavier Neal. It valued the company at $400m according to TechCrunch.
Founded in 2014, Dice has built a mobile platform which allows customers to buy live tickets to entertainment events such as music or comedy in addition to livestreamed performances, using an intelligent algorithm to recommend shows.
The platform is designed to minimise booking fees and scalping and maximise information on pricing and refunds. Over the past year, Dice claims to have worked with 6,400 artists and sold to fans in 179 countries.
The company will use the proceeds from the round to grow its team and its reach – particularly in the United States – as well as expand its livestreaming business, which has already experienced growth over the pandemic, and launch a new artist development programme.
The funding came after Dice closed a $6m series A round in 2016 led by Evolution Equity Partners that also featured White Star Capital, Designer Fund, Kima Ventures, Lumia Capital and assorted private investors.
Phil Hutcheon, founder and chief executive of Dice, said: “Dice is rewiring the live experiences industry. We have proven that if you treat fans well, they go out more.
“We are overhauling an unfair, inefficient system by pioneering a transparent, data-led, fan-first approach – building a scalable ecosystem that helps artists, promoters and venues thrive. To have SoftBank as a partner enables us to expand into every market.”
