TodayTix Announces $73M Investment from Great Hill Partners
TodayTix, a moble-first ticketing platform offering tickets to shows in select markets sourced through partnerships with theatrical producers and resale, announced a major investment of $73 million from Great Hill Partners, bringing the company’s total outside investment to over $100 million since its launch in 2013.
Chief executive and co-founder Brian Fenty told Broadway News that the funds will be used to buy out previous investors as well as invest in expansion to new markets and “talent, technology and product.”
“Much of this innovation and investment is around personalization and discovery, to give consumers access to premium content and more tailored experiences,” he wrote in an email to the publication. “For partners, there’s a tremendous push to build better analytics and insights, driving more thoughtful connections between audience and producer.”
Currently, TodayTix is available in 15 markets, which include its core in New York – where it holds a ticket resale license – London, San Francisco, Chicago, Los Angeles, and Australia among others.
Beyond expansion, the company’s future plans appear to be focused on exploiting its access to consumer data through its mobile platform to provide more data to producer partners in order to better profile and market to them.
“Our partners need access to data, tools, and insight to elevate the impact of each production and deepen relationships with customers,” Fenty told AlleyWatch. “We want to be the media company that facilitates the information and connections by utilizing our proprietary data-driven audience feedback to offer new shows, arts, and cultural experiences and double-down on expanding its technologies in discovery and personalization for both consumers and partners.”
Great Hill Partners has active investment in a number of other e-commerce operations, including Custom Ink and Bombas, but TodayTix appears to be its lone investment specific to the event ticketing space, based on a perusal of its active investments page on greathillpartners.com.
“TodayTix is rapidly changing the way millennials and other consumers connect with live cultural experiences,” Great Hill Managing Partner Michael Kumin said in a statement published as part of a TechCrunch story on the investment. “We look forward to working with Brian, [co-founder] Merritt [Baer] and their talented management team to expand the company’s product and service offerings and accelerate its push into new geographies.”