NEW YORK — TickPick, which operates a no-fee ticket marketplace, has raised a $40 million investment from PWP Growth Equity. This will be TickPick’s first institutional funding round. The investment will allow TickPick to expand marketing and business development initiatives and establish a data team to further improve the company’s customer service by utilizing machine learning and artificial intelligence.
Founded in 2011 by Brett Goldberg and Chris O’Brien, TickPick has rapidly grown through technological innovation and acquisition. The company’s customer-centric platform offers a heightened user experience, highlighted by its full transparency approach in offering one “all in” price, resulting in less expensive event tickets for consumers. In 2018, TickPick purchased Razorgator, another secondary ticket marketplace which doubled the company’s customer base, and Rukkus, a live entertainment search engine with high-definition 360-degree seat-view functionality of sporting venues.
TickPick has also formed partnerships with Firefly Music Festival and Riot Fest, the Big South and Western Athletic Conferences, Florida International, Georgia State and Santa Clara Universities, wrestling icon Ric Flair, Sports Illustrated Saturday Night Lights, Shaq’s Fun House, and the Maxim Pregame Experience, among others. TickPick expects to surpass $200 million of gross transaction value in 2019, achieving more than 60% year-over-year growth.
Chris O’Brien, TickPick Co-Founder and Co-CEO, said, “At TickPick our mission is to continually improve the customer experience through technological innovation and industry-leading service. The investment from PWP Growth Equity allows us to continue to separate TickPick as the industry leader in customer satisfaction.”
Brett Goldberg, TickPick Co-Founder and Co-CEO, commented, “PWP Growth Equity has an established track record of leveraging their experience in digital marketplace, e-commerce and consumer companies to spur growth at companies like TickPick. We expect to benefit tremendously from this experience. PWP Growth Equity is the ideal partner for TickPick as we continue to scale.”
John McKee, a Managing Director of PWP Growth Equity, said, “We are extremely excited to partner with Chris, Brett and the entire TickPick team. We seek to partner with passionate and committed management teams with differentiated business models looking to further unlock their growth potential – and we found that in abundance in TickPick. Since its founding, TickPick has been disrupting the secondary event ticketing industry with its unique value proposition and established an incredibly loyal, passionate customer base. Our objective is to contribute to the further success of the TickPick brand and be an integral part of its increasing market share and national expansion.”