SeatGeek, a NYC-based technology platform for live event experience for fans, teams, and venues, raised $238m in Series E financing.
The round was led by Accel, with participation from Wellington Management, Arctos Sports Partners, and Ryan Smith, founder and executive chairman of Qualtrics and founder of Smith Entertainment Group (SEG) which includes the Utah Jazz. The investment values the business at $1 billion on a pre-money basis and comes after SeatGeek exceeded all 2021 public financial forecasts and is on track to more than double revenue in 2022.
The company intends to use the funds to invest in people, product, and partners, as well as in several key areas such as Rally, its personalized event-day experience platform.
Led by Jack Groetzinger, CEO and co-founder, SeatGeek combines a consumer marketplace with innovative primary ticketing box office technology. Fans can get access to features including: Deal Score, its proprietary ticket rating technology; Rally, its event-day operating system; and SeatGeek Swaps, a return policy offered by a major ticketer. In parallel, the platform’s open-ecosystem enterprise ticketing software empowers teams, venues and promoters to grow their businesses while delivering the superior experience that all fans deserve.
SeatGeek partners with some of the most recognized names in sports and live entertainment across the globe including the Dallas Cowboys, Brooklyn Nets and Liverpool F.C., as well as Major League Soccer (MLS), National Football League (NFL), half of the English Premier League (EPL), and multiple theaters across NYC’s Broadway and London’s West End.
SeatGeek Swaps, the first return policy offered by a major ticketing platform; and its enterprise ticketing software which supports the entire ticketing ecosystem by offering an end-to-end solution for teams and venues.