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Business News Live Business Management & Funding
Dice raises $6 million in new funding
By Andy Malt | Published on Friday 2 September 2016
Ticketing platform Dice has announced that it has raised $6 million in new funding, in an investment round led by Evolution Equity Partners and a group of existing investors. The service, which has the USP of not charging booking fees, has now raised $10 million to date.
“We see Dice as a transformational platform that utilises the power of big data, machine learning and mobile to improve user experience for live music discovery and ticket purchasing, and Dice is a disruptive force from a business model perspective”, says EEP’s JR Smith of why he’s bunging all this cash at the company. “Evolution Equity Partners are extremely excited to back them”.
Dice CEO Phil Hutcheon adds: “Dice is a long-term focused business and we’re solving hard problems around ticketing. We’re removing the barriers for real fans who are fed up of high ticket fees and limited access to primary tickets. With Dice, we’ve built a platform where discovering new artists is easy since both our human curation and algorithms surface those most relevant to you. Dice is obsessed with design, simplicity, transparency and innovation”.
The new money in Dice’s bank account will be used to expand into Europe and North America, as well as for tinkering with the technology behind the service.
Here’s a few things Hutcheon had to say about Dice when it first launched in 2014, and an interview with the company’s Music Editor Jen Long on the evolution of the service from last year.
