SeatGeek Acquires Israeli Ticketing Startup, TopTix
New York ticket marketplace startup, SeatGeek, continues to grow. Earlier this month the company announced a $57 million dollar series D round. The round was led by Glynn Capital. Accel, Causeway Media Partners, Haystack Partners, Mousse Partners, and Technology Crossover Ventures also participated. We now know that a bulk of that funding was set up to help the company purchase TopTix.
Israeli ticketing startup TopTix provides ticketing software to more than 500 different companies in 16 different countries. TopTix has been a technology partner with SeatGeek for Sporting Kansas City, the company’s primary ticketing client.
SeatGeek continues to grow it’s consumer facing marketplace. They want to become the source for people to get tickets to any sporting event. TopTix offers the back end technology for venues, artists and others to sell tickets. They have a huge presence abroad and process 80 million tickets a year. Some of their customers include the Royal Dutch Football Association, Buckingham Palace and the Ravinia Festival.
“By marrying those two things together, we’re creating a very powerful full stack that’s miles ahead of the legacy ticketing companies,” Groetzinger told TechCrunch.com
The company was founded in 2008 and launched at the TechCrunch 50 conference. At the time they were a resale third party ticket platform similar to BigStub and StubHub. As they’ve grown over the years they’ve been able to incorporate new tickets to new events. With the acquisition of TopTix they can position themselves to go head to head with Ticketmaster.
“TopTix has by far the best backend primary ticketing technology in the world, and we believe that at SeatGeek we have created by far the best user experience,” SeatGeek co-founder Jack Groetzinger said in a statement. “Combining these two platforms together positions SeatGeek as the best ticketing platform in the industry. We’re thrilled to be working with the team from TopTix to continue to build our open ecosystem that is transforming the way people access live events.”