Mobile payment processor Square has invested $25m in Eventbrite, the US-based creator of an event ticketing technology platform, as part of a strategic partnership agreement.
Founded in 2006, Eventbrite has created software that is used by organisers to promote and manage events, enabling them to process ticket sales, handle on-site operations and analyse results across sales channels, from a single platform.
Eventbrite claims more than 50 million consumers buy tickets using its platform each year, and it closed a $200m acquisition of online ticket seller Ticketfly at the start of this month.
The deal will involve Square becoming Eventbrite’s payment processing partner for its online, mobile and in-person ticketing systems.
Eventbrite has now raised approximately $225m of funding altogether. It had secured $9.5m from investors including Global Founders Capital when venture capital firm DAG Ventures led its $20m series D round in 2010, investing alongside Sequoia Capital and Tenaya Capital.
Tiger Global Management led Eventbrite’s $50m series E round in 2011 before combining with fellow investment firm T Rowe Price to invest $60m in 2013. Tiger Global and T Rowe Price added another $60m the following year.