NEW YORK (CelebrityAccess) — Secondary ticketing company SeatGeek has expanded its footprint in the primary market space with the acquisition of Israeli ticketing software company TopTix.
The $56-million-dollar acquisition was financed by a new $57 million Series D investment round in SeatGeek led by Glynn Capital, with participation from existing investors Accel, Causeway Media Partners, Haystack Partners, Mousse Partners, and Technology Crossover Ventures.
TopTix, and their flagship platform, SRO (Standing Room Only), processes 80 million tickets a year in 16 countries across the globe. Current TopTix clients, which will now be clients of SeatGeek, range from museums and theaters to festivals and sports teams, including well-known organizations such as the Royal Dutch Football Association, Ravinia Festival, Nederlander and multiple English soccer clubs.
“As anyone who has spent time in the entertainment industry knows, ticketing is a pain point for teams, artists, venues, and their fans,” said David Glynn of Glynn Capital, who prior to his technology investing career worked for Eric Godtland Management which managed and developed artists such as Third Eye Blind. “We believe that SeatGeek, strengthened by TopTix, is providing a better option through an innovative business model and best-in-class technology, and we think that’s the key to turning a massive industry on its head.”