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Business News Live Business
Ticketfly raises new investment
By CMU Editorial | Published on Thursday 26 July 2012
Social media based ticketing platform Ticketfly, founded by the man originally behind TicketWeb, has announced it has secured $22 million in new funding from investors including SAP Ventures, Northgate Capital and Cross Creek Capital.
The new round of investment means $37 million has now been pumped into the four year old company which enables artists and promoters to sell tickets via Facebook and Twitter.
Confirming the new funding round, Ticketfly Founder and CEO Andrew Dreskin told CMU: “We seek investors that provide not only financial support, but also strategic value. SAP Ventures, Northgate Capital and Cross Creek Capital certainly fit that bill. These firms have significant expertise internationally, in the sports vertical and in the public markets. Their knowledge and experience will be critical as we expand our product offering and diversify our client base. It’s a time of great disruption in the ticketing space, and we’re thrilled to have investors who share our vision – to transform the event ticketing industry”.
