GREENWICH, Conn. & NEW YORK--(BUSINESS WIRE)--Aug 22, 2024--
Brighton Park Capital (“Brighton Park”), an investment firm focused on entrepreneur-led, growth-stage companies, today announced a $250 million investment in TickPick, the modern transparent ticket marketplace transforming the event ticketing industry, to accelerate its growth and scale operations. This represents the largest fundraise in the ticketing industry to date.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240822457355/en/
TickPick and Brighton Park Capital also announced today that Symphony Ventures, Rory McIlroy’s investment partnership, has joined as a strategic investor. This partnership aims to help TickPick expand its platform to reach new audiences. Symphony’s participation underscores robust confidence in TickPick’s market position and growth potential, a testament to the strong brand appeal and loyal customer base that TickPick has built over the last 13 years. Symphony’s support will enable TickPick to further enhance its offerings, positioning the company to capitalize on expansion opportunities within the live events industry.
TickPick was founded in 2011 by Co-CEO’s Brett Goldberg and Chris O’Brien who saw an unmet need in the market for a cost-effective, transparent solution that puts the consumer first. TickPick has been revolutionizing the ticketing marketplace industry with its all-in, no-fee pricing model, ensuring that fans always know exactly what they are paying for without any hidden costs. Furthermore, TickPick’s modern, mobile-first platform provides both buyers and sellers a seamless end-to-end user experience, while offering unique features such as Price Tracking and Price Freeze which allow consumers to make informed purchasing decisions and secure the best deals. TickPick has experienced remarkable growth in its user base and sales volume, with 14 million mobile app downloads resulting in total sales increasing 8x over the past three years to nearly $1 billion of ticket sales today, while saving customers over $180 million in service fees alone along the way.
“We’re thrilled to announce our latest growth investment, which will help accelerate our ability to transform the ticketing industry,” said Chris O’Brien, TickPick Co-Founder and Co-CEO. “We founded TickPick with the unwavering commitment to deliver a transparent and hassle-free ticket-buying experience for consumers. This investment will allow us to deepen this commitment by accelerating the pace of product innovation, raise our brand awareness, and reach more customers than ever before.”
Brett Goldberg, TickPick Co-Founder and Co-CEO, commented, “We have built a relationship with Brighton Park over many years and the firm is our clear partner of choice given its strong track record of partnering with founder-led companies and marketplace platforms, which we believe will help us continue to scale the business and drive a lasting impact.”
“TickPick has demonstrated tremendous growth by offering a strong value proposition that both enhances the customer experience and removes one of the biggest pain points for consumers with its no-fee model,” said Kevin Magan, Partner at Brighton Park Capital. “TickPick’s recent growth and partnerships with some of the largest sports leagues and teams in the world is a testament to their appeal among a broad customer base, and we’re excited to partner with Brett, Chris and the incredibly talented TickPick team as they continue to disrupt the ticketing industry.”
TickPick’s exemplary approach to transparency through its all-in pricing model has garnered many accolades. As highlighted in a recent White House press release 1, TickPick was recognized for “displaying up-front, all-in pricing since its inception in 2011,” pioneering the new standard of transparency in the industry. This approach demonstrates the high level of consumer trust and satisfaction placed in TickPick, and has led to recent and new key partnerships with professional sports teams:
- Official Fan Experience Partner of the Philadelphia Eagles , providing fans with unique opportunities and streamlined access to tickets in addition to the upcoming debut of TickPick Landing at Lincoln Financial Field, a new and exclusive pregame fan experience featuring all-inclusive food and beverage options, as well as meet-and-greets with Eagles Legends.
- Official Fan Experience Partner of the Los Angeles Rams , enhancing the game-day experience for fans with seamless ticketing solutions and exclusive offers, including access to VIP Club Seats featuring all-inclusive food and beverage options two-hours prior to kickoff as well as throughout the game inside the TRD Pro Club.
- First MLB Partnership with the Minnesota Twins , providing access to the Summer Postgame Concert Series for fans in the Twin Cities and presenting the TickPick Family Section which includes free food and drinks.
- LaLiga – Official Ticket and Hospitality Partner of LALIGA North America, TickPick will introduce new ways for fans to immerse themselves in soccer matches across LALIGA’s North American Summer Tour and while their favorite LALIGA teams play in Spain.
As part of the transaction, GreyLion, a private equity firm focused on high-growth businesses will exit its position in TickPick following its 2019 investment.
Santi Núñez, Partner at GreyLion, said, “Brett, Chris and the entire team at TickPick have built a successful and scalable business within the live events industry. We are proud to have partnered with TickPick to help strategically drive their growth and wish them continued success.” Brett Goldberg added, “We have highly valued our partnership with GreyLion, who supported our growth ambitions, both organically and through strategic investments. Their experience investing in high-growth marketplaces helped TickPick more than quintuple revenue since their investment.”
Wells Fargo served as financial advisor and Kirkland & Ellis LLP served as legal counsel to TickPick and GreyLion. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Brighton Park.
About Brighton Park Capital
Brighton Park Capital is a Greenwich, Conn.-based investment firm focused on entrepreneur-led, growth-stage software, marketplace, healthcare, and tech-enabled services companies. The firm invests in companies that provide highly innovative solutions in partnership with great management teams. Brighton Park brings purpose-built, value-add capabilities that match the unique requirements of each of its companies. For more information about Brighton Park Capital, please visit www.bpc.com.
About TickPick
No Fees. More Savings. Among the fastest growing technology companies, TickPick is reshaping the ticket marketplace industry, putting money back in the wallets of live event-goers. Since our inception, we have saved our customers over $180 million in service fees alone. TickPick’s BestPrice Guarantee backs up our promise to deliver better prices than their competition. For more information, visit tickpick.com.
About Symphony Ventures
Symphony Ventures, established in 2019 by professional golfer Rory McIlroy and Sean O’Flaherty, is an investment partnership with a focus on the Healthcare, Sports and Technology sectors. The partnership is dedicated to being more than just a financial investor; it aims to be a supportive partner, helping portfolio companies grow through strategic brand marketing campaigns and business growth initiatives. Leveraging its comprehensive capabilities and operational experience, Symphony Ventures aims to enhance the development of its investments, which include prominent names such as Alpine F1 Team, GolfPass, Golf Genius, LetsGetChecked, Lyric, TMRW Sports, Troon Golf, Whoop, and WellSky.
1 The White House. (2023 June 23). President Biden Recognizes Actions by Private Sector Ticketing and Travel Companies to Eliminate Hidden Junk Fees and Provide Millions of Customers with Transparent Pricing [Press Release].
View source version on businesswire.com:https://www.businesswire.com/news/home/20240822457355/en/
CONTACT: Media: For Brighton Park Capital:
FGS Global
BrightonPark@fgsglobal.comFor TickPick:
Jonathan Gluskin
Branded
jgluskin@thebranded.agency
(847) 308-1314
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK CONNECTICUT
INDUSTRY KEYWORD: SPORTS ENTERTAINMENT PROFESSIONAL SERVICES ONLINE RETAIL INTERNET EVENTS/CONCERTS SPECIALTY ELECTRONIC COMMERCE TECHNOLOGY OTHER SPORTS GENERAL ENTERTAINMENT RETAIL FINANCE
SOURCE: Brighton Park Capital
PUB: 08/22/2024 11:00 AM/DISC: 08/22/2024 10:59 AM
http://www.businesswire.com/news/home/20240822457355/en
Most Popular
Comments / 0