TickPick, a NYC-based no-fee ticket marketplace, raised $40m in first funding.
PWP Growth Equity made the investment. As part of the investment, John McKee, a Managing Director of PWP Growth Equity and Chip Baird (Partner and Co-Founder of PWP Growth Equity) will be joining TickPick’s Board of Directors.
The company intends to use the funds to accelerate its marketing and business development initiatives and establish a data team to further improve its customer service by utilizing machine learning and artificial intelligence.
Founded in 2011 by Brett Goldberg and Chris O’Brien, TickPick aims to reshape the secondary event ticket marketplace with its no-fees approach. The company does not charge any fees for buyers and also leverages its algorithms to look at the price/value ratio for tickets to offer value grading for buyers so they can get the optimal experience for their money. Users can also bid on tickets in a process that is similar to financial markets where supply and demand creates a more efficient marketplace.
In 2018, TickPick purchased Razorgator, another secondary ticket marketplace which doubled the company’s customer base, and Rukkus, a live entertainment search engine with high-definition 360-degree seat-view functionality of sporting venues.