LOS ANGELES (CelebrityAccess MediaWire) – ScoreBig, a new members-only site offering savings of 10-70% and no fees on tickets for sports, concert and theater events nationwide, today announced a $14 million first closing of its Series B financing.
U.S. Venture Partners led the latest funding, which also included previous investor, Bain Capital Ventures.
With this latest financing, ScoreBig has raised a total of $22.5 million.
Founded by CEO Adam Kanner, former National Basketball Association executive and COO and CTO Joel Milne, founder of SeasonTicket.com, ScoreBig claims to help owners of unsold inventory fill seats while increasing affordability of live entertainment to consumers.
According to a statement, ScoreBig aims for the following:
"Venue owners, sports teams, producers, promoters and any entity with unsold live event inventory now has, for the first time, an ability to safely and securely sell this inventory to consumers without the cannibalization risks and negative brand perceptions often associated with traditional discounting. As a result, ScoreBig’s ticketing partners are able to pass unprecedented savings onto ScoreBig’s member base and ScoreBig’s partners are able to attract new customers and fill seats."
“Today’s announcement is an important milestone for ScoreBig and further validates the importance of our solution and mission to help the live event industry deal with the issues of unsold seats and the rising cost for consumers to attend live events," said Kanner. “We are leading the charge to deal with these issues head on and are thrilled to have such committed partners who share our vision.”
For ScoreBig members, every ticket offered is below retail, includes free delivery and is 100% guaranteed. Membership is free but by invitation only.
In addition to a seasoned team of executives, ScoreBig advisors and individual investors include Gideon Yu, former Facebook and YouTube chief financial officer; Shari Redstone, vice chair of CBS and Viacom; Michael Bronner, founder and former chief executive of Digitas; and Finn Wentworth, former president and chief operating officer of YankeeNets among others.
ScoreBig was founded in 2009 and is headquartered in Los Angeles.
— Crystal Lynn Huntoon