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Eventbrite Lands New Round Of Funding

SAN FRANCISCO (AP) — Event ticketing website Eventbrite has closed a deal on $20 million in funding to help it continue development and growth. This was a big bump for Eventbrite and brings their total funding up to $29.5 million.

Eventbrite's business model is built around allowing users to publish, promote and sell tickets to events as well as providing consumers with a way to discover and share information on events with their friends. Eventbrite has integrated their service closely with services such as Facebook as a way to help drive awareness of events.

The latest round of fundraising was led by DAG, with Tenaya Capital also joining as a new investor. Sequoia Capital, Eventbrite's only venture investor until now, continued their participation in the round.

The company projects that they are on track to hit the $200 million total gross ticket sales in 2010 and has already handled 7.5 million ticket sales this year. In January, they added Ticketmaster alum Sean Moriarty to their board of directors. – CelebrityAccess Staff Writers