Festicket kicks off 2019 with $4.6m investment from creative specialists Edge
Edge Investments (“Edge”), the leading creative industries specialist, has invested $4.6m into Festicket, the world's largest platform for music festival experiences, headquartered in London.
Edge’s investment follows a pivotal year for Festicket, which closed the year with an earlier series D funding round led by transatlantic venture capital firm Beringea.
Festicket partners with festivals to provide travel packages that combine tickets, accommodation, and transfers in one complete and hassle-free one-stop shop for festival-goers. The company has four additional offices alongside their London HQ in San Francisco, Amsterdam, Berlin and Porto. It has four additional offices in the EU and US.
Founded by Zack Sabban (CEO) and Jonathan Younes (CPO), the management team has since been bolstered by a series of senior executives hired from companies such as Live Nation, Eventbrite, and Channel 4.
As the European festival market continues to grow, Festicket’s ambitions are global – working with more than 2.5 million customers, over 1,200 festivals and 4,500 suppliers across 50 countries worldwide.
Edge’s investment will support Festicket’s entrance into new markets, primarily North America and Asia, alongside development of the underlying technology platform. Festicket is also planning to invest further in its community of passionate festival fans from around the world, with the aim of building an exclusive membership tier with added benefits in 2019.
Investment Director David Fisher led the investment from Edge, alongside Investment Manager Josh Burge.
Edge Investments Founder and CEO David Glick said:
“What attracted me to Festicket was its talented and committed management team. Zack (Sabban) and Jonathan (Younes) have an almost telepathic bond, and in common with the best entrepreneurs they know why they are building Festicket into a huge business, solving an everyday millennial pain-point by streamlining, personalising and curating thousands of live experiences for millions of customers.”
Edge Investments Director David Fisher said:
“We are excited to partner with such a fast-growing company. The experience, events and festival markets continue to grow exponentially and Festicket is strategically positioned to benefit from these combined trends as a horizontally integrated platform. We are delighted to support them on their journey.”
Festicket CEO Zack Sabban commented:
“We welcome this new investment from Edge at a really important time for Festicket. Edge has a unique network and wide music industry knowledge, as well as an excellent understanding of our approach to content and community - a crucial ingredient in our growth recipe. The investment team are very passionate about our business and they believe in and understand our mission and business model. It feels like a perfect match.”
Festicket CPO Jonathan Younes added:
“The new round of funding will support more product and technology work to continue to improve our user experience and discovery tools. We are delighted to welcome the Edge Investments team and build, with their support, the best platform for festival fans around the world.”
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ABOUT EVENT GENIUS BY FESTICKET
Festicket is the world's largest platform for discovering and booking festival trips. Founded in 2012 by Zack Sabban and Jonathan Younes, the company is backed by a range of investors including Beringea, Edge, Lepe Partners, ProFounders and InMotion Venture and in 2019 completed the acquisition of multi-award winning Leeds (UK) based ticketing and cashless POS platform Event Genius, and the related Ticket Arena consumer website and brand.
The new joint venture, Event Genius by Festicket, creates an end-to-end platform for organisers and fans alike, providing the most complete offering in the live entertainment industry. The platform brings together technology and expertise including POS and cashless payment services, ticketing, accommodation, travel & packages, marketing, data insights & analytics, access control, fan engagement tools and more to plug a gap in the market that no other organisation has addressed to date.
Together, the company works closely with over 4000 official festival and event partners including Coachella, Tomorrowland, BST Hyde Park, Ibiza Rocks, Motion Bristol and Wales Rally GB, serving a growing community of over 5 million customers.
Festicket was named in the FT (Financial Times) 1000 in 2019, is a Tech Nation Future Fifty member and also made Deloitte’s Technology Fast 50 list in 2019. Alongside its London HQ, Festicket has offices in Leeds, San Francisco, Amsterdam, Berlin, Porto and Nantes.