Pollen, a UK-based live entertainment marketing platform backed by record label Universal Music Group (UMG), has received $60m in a round led by venture capital firm Northzone, UK Tech News (UKTN) reported yesterday.
Northzone was joined in the round by the alternative asset subsidiary of investment group Groupe Bruxelles Lambert, as well as Draper Esprit, Kindred Capital, Backed VC, Sienna Capital and undisclosed additional investors.
Founded in 2014 as StreetTeam and later known as Verve, Pollen runs an online members club where brands recruit advocates to promote live events to their friends in exchange for VIP or complimentary tickets.
The service features concerts, nightclubs and holidays that appeal to younger adults, with new members selected on the basis of a questionnaire detailing the applicant’s live entertainment preferences.
Pollen intends to use the funding to expand its membership and add more events to its offering. It has also moved into winter sports marketing, purchasing ski and snowboard experience provider Lifestylez in a deal announced alongside the round.
Northzone investment manager Gareth Jefferies and Timo Boldt, founder and CEO of food recipe box supplier Gousto, have joined Pollen’s board of directors, and the round brought its lifetime funding to $100m according to UKTN.
UMG participated in an $18.5m series B round Pollen closed in late 2017. Draper Esprit led that round, which also featured Kindred, Backed VC and Frontline Ventures.
The latter three had co-led a $10m round for the company in 2016 that included UMG, Saatchinvest and angel investor Peter Davies, whose contribution included the fulfilment of an existing convertible note.