Tickitto secures $4.5m seed round to give platforms global access to ticketed events and experiences
Time to read: 3 minutes
Written by: Adam Rockley
Today Tickitto has announced the closure of an oversubscribed $4.5m seed round led by Berlin based Vorwerk Ventures with participation from TriplePoint. A number of previous investors in the company, including well-known early-stage investor SeedCamp, have followed on their investment in this round.
In addition, the round includes notable strategic Angel Investors including: Martin Gould, who was head of product for Spotify's content platform, ComplyAdvantage CEO Charles Delingpole, Universal Studio’s former VP of Business Development Jonny Moran, Revolut Business’ former CEO Richard Davis and GoCardless Founder Matt Robinson.
The company also confirms its official launch as the world’s most comprehensive B2B marketplace for tickets to sports, music, theatre and cultural experiences via its innovative REST API, supply distributed via global heavyweight Amadeus, and European leading travel operators Él Viajas Corte Ingles and Carrefour Voyages.
Commenting on the closure of the funding round and the go-live of the partnership, Tickitto CEO Dana Lattouf comments:
‘I am proud and inspired by the way we’ve risen to the challenge given the impact of COVID and this funding round is perfectly timed with the great return of events and experiences. We’re grateful to have the continued investment of our current investors and excited to welcome our new investors on this journey of scale.’
‘Having focused on our technology while the events and travel industry was essentially in hiatus due to the global pandemic, we are now strongly positioned to develop new strategic relationships with suppliers and distributors. We’ll be using the funds to hire heavyweight partnership development teams and to invest in data infrastructure which will help Tickitto’s clients provide a level of personalised service previously unavailable in the ticketing industry.’
Sascha Günther, Principal of Vorwerk Ventures, added:
‘We’re very excited to be part of the journey. Their business fits perfectly into our portfolio of disruptive innovators. We have been impressed with the progress they have made both in terms of technological innovation and the relationships they have developed with major players.’
Commenting on reaching an agreement with Tickitto AI, Servantrip CEO Javier Arevalo said:
‘It’s been part of our strategy for a while to add ticketing and events services to our valued clients. Tickitto has the perfect solution for us, offering a scalable API that unlocks access to unique global events and allows us to augment our existing portfolio.’ Servantrip serves 7.400 travel companies globally and adopts Tickitto’s technology to expand the services it is able to provide customers globally.
Tickitto was founded to solve the complex supply problems by creating Open Ticketing design principles, similar to those that have revolutionized consumer banking. The company has designed a way for platforms to incorporate the supply of ticketed events to their customers at 1% of the effort it would traditionally take. The promise of being able to buy tickets to events from brands we trust is made real in this way.
Vorwerk Ventures is an independent Venture Capital Fund grown out of the Vorwerk Group in late 2019 and defines itself through a strong commitment towards consumer-facing digital businesses. Headquartered in Berlin, Vorwerk Ventures has more than 250m Euro in assets under management. Vorwerk Ventures' portfolio includes prominent start-ups and grow-ups, such as Thermondo, Lillydoo, Ottonova, Planted, Rebike or Everdrop, and their exit-list includes successful companies such as Flaschenpost or HelloFresh among many others.
Servantrip is the most advanced Artificial Intelligence Travel Tech platform for the distribution of ancillaries. Based in Madrid (Spain) and with offices in Avilés, Mallorca and Krakow (Poland), it provides a plug & play booking engine and API connectivity to travel agencies, OTAs, TMCs & corporates, wholesalers and GDSs. In 2019 Servantrip was chosen as one of the 24 most innovative travel companies in the world by Phocuswright.
Dana Lattouf is Founder and CEO of Tickitto – a B2B marketplace for tickets to live entertainment events and cultural experiences. In 2017, Dana was one of two people to receive the University of Bath’s Innovation Grant, allowing her to turn away from a career in Technology and Strategy consulting and plunge into entrepreneurship. In 2019, Google for Startups selected Tickitto as one of 10 startups across the UK for its Female Founders residency programme and NatWest Business recognised Tickitto as one of the Top 10 businesses in the Southwest of England and Wales.
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