Ticketing startup DICE announced today that it has raised $ 122 million in a Series C business financing round led by new business investor SoftBank Vision Fund 2. Tony Fadell’s Future Shape, Blisce, French businessman Xavier Niel, Mirabaud Private Equity, Cassius and Evolution.2, also participated in the business financing round.
Revolutionizing the murky ticketing industry
The startup has focused on transforming the shady ticketing industry by introducing its transparent “fan-first” model and a mobile ticketing platform that has helped prevent scalping. DICE is working to make the ticket buying experience more enjoyable for fans to bring them together so they can enjoy live and live shows.
The ticket platform developed by the startup is based on an upfront pricing model and has introduced a number of popular features. Some of them include refunds on sold-out shows and a “waiting list” that allows fans to enjoy the most popular concerts while ensuring venues are at capacity. Such an approach has helped drive the company’s commercial sales. It has also protected artists from losing money on ticket sales by preventing secondary resale of tickets.
“We believe that DICE’s technology has the ability to transform the future of live entertainment,” said Yanni Pipilis, managing partner at SoftBank Investment Advisers.
“Along with the flexibility and security of seamless ticketing, the platform connects fans, artists, and venues in a whole new way … We are excited to partner with DICE to help create remarkable event experiences for fans. fans from all over the world. ”
The start-up company said it will use the commercial funds raised to expand its reach to artists, fans and venues. DICE will also hire new talent, add new live streaming offerings, and launch a promising artist development program through which the ticket platform will collaborate with new artists on its live strategy.
“DICE is rewiring the live experience industry. We’ve shown that if you treat fans well, more come out,” said Phil Hutcheon, CEO and founder of DICE.
The ticket startup company is on a mission to transform an inefficient ticket system by offering a transparent, fan-centric ticket platform that will help build a “scalable ecosystem that helps artists, promoters, and venues thrive.” Hutcheon added.
DICE managed to stand out from its rivals thanks to its focus on repeat fans and the Discovery algorithm that helped increase ticket sales by over 40%, providing a strong boost to artists and venues.
The startup currently cooperates with more than 3,600 venues, festivals and promoters around the world, including Brooklyn’s “Avant Gardner” and the famous “Primavera Sound” festival.
Following the COVID-19 pandemic last year, DICE was the first ticket platform to offer live streaming tickets. The ticketing company has held more than 6,400 live music, art and culture broadcasts to date.
Based on DICE’s current business growth rate, the ticket platform is expected to be used by around 49,000 artists and creators by the end of 2022.
Summary
Ticketing startup DICE has announced that it is securing $ 122 million in a Series C trade financing round led by new investor SoftBank Vision Fund 2. The start-up company plans to use the trade funds raised to expand its attractive to artists, fans and venues.
