July 22, 2010 08:00 ET
SeatGeek Raises $1 Million in Series A Financing From Founder Collective and NYC Seed
Company Also Partners With Nielsen Entertainment to Bring SeatGeek's Unique Ticketing Data and Analytics to the Music Industry
NEW YORK, NY--(Marketwire - July 22, 2010) - SeatGeek (http://seatgeek.com), the leading ticket-price forecaster and aggregator on the secondary market, recently raised $1 MM in Series A financing led by Founder Collective. Founder Collective, an early stage VC firm based in New York City, previously invested in Get Me In!, a European secondary ticket market acquired in 2008 by Ticketmaster. NYC Seed, an early stage VC firm based in New York City, also invested in the round. Founder Collective and NYC Seed will join SeatGeek's current investors, which include Stage One Capital, Trisiras Group, PKS Capital; and angel investors Arie Abecassis, Sunil Hirani, Thomas Lehrman, Allen Levinson and Mark Wachen.
The funding brings SeatGeek's total investment to over $1.5 MM, and it intends to use the financing to build out its engineering and business development teams. In particular, SeatGeek will focus on making its unique data and analytics more accessible to strategic partners, consumers, and the media.
"Since our launch in September 2009, SeatGeek has quickly established itself as a disruptive company in the ticketing space. This funding gives us the opportunity to further establish ourselves as the industry's leading search engine," said SeatGeek's Co-Founder Jack Groetzinger.
SeatGeek Integrates Proprietary Data in Nielsen Entertainment's SoundScan Product
SeatGeek also recently partnered with Nielsen Entertainment to bring SeatGeek's ticketing data and analytics to the record industry.
SeatGeek Launches MLB Fan Sentiment Pages
In addition, the company announced the launch of MLB Fan Sentiment pages, which highlight SeatGeek's unique data to show historical ticketing trends for each team and rank each team on fan popularity. On the New York Yankees Fan Sentiment page fans can see how recent events like George Steinbrenner's death and Alex Rodriguez's 600th home run chase affected fan interest in the team.
"When a player gets traded or a team goes on a winning streak, we can look inside our ticketing data to see exactly how the fans reacted," said Co-Founder Russell D'Souza. "We were inspired to create these pages after top publications like the New York Times, Wall Street Journal, and Washington Post kept turning to us for ticketing data. We want to empower teams and fans to understand how a team's popularity can change over the course of the season."
SeatGeek will roll out Fan Sentiment pages for all major sports teams and artists in the upcoming weeks.
SeatGeek.com is the only site that forecasts how sports and concert ticket prices move on the secondary ticket market. SeatGeek allows fans to search multiple sites, find sold out tickets, compare prices, view price forecasts, and buy tickets all in one place. SeatGeek offers tickets for all four major sports -- MLB, NFL, NBA, NHL -- and concert events. Founded in September 2009, the company is based in New York City.