Ticketfly, the US-based online ticket sales platform that counts corporate-backed venture capital firm Sapphire Ventures among its investors, closed a $50m series D round yesterday.
The round was led by private equity firm Riverwood Capital. Ticketfly did not disclose the other investors but said in a statement it expected its previous investors, which include Sapphire, the VC firm spun out of software producer SAP, to participate in the round.
Founded in 2008, Ticketfly has created a platform capable of powering the entire live event process, incorporating the booking of acts, digital marketing and even in-venue merchandising. It also offers mobile users curated event recommendations.
Ticketfly, which was co-founded by Andrew Dreskin, also a co-founder of online ticket site TicketWeb, recently passed the $1bn gross sales mark. It acquired Northern Tickets, the ticketing subsidiary of Canada-based entertainment and hospitality group MRG, in March this year.
The funding will support the company’s expansion of its platform into larger venues, as well as international expansion and a move into adjacent services.
Ticketfly has now raised approximately $87m in funding in total, including $22m in a 2012 series B round led by Sapphire, then known as SAP Ventures, that also featured Mohr Davidow Ventures, Cross Creek Capital, Northgate Capital, Primary Ventures, which was then called High Peaks Venture Partners, and Contour Venture Partners.