Atom Tickets has amassed more than $60m in a recent funding round led by Fidelity Management & Research.
Disney, Lionsgate and 20th Century Fox Film, the trio of Hollywood studios that pumped $50m into Atom in 2016, also participated in the firm’s recent Series C funding round.
To date, Atom Tickets has banked more than $125m, which the company plans to use to enhance its social movie-ticketing app and website experience, as well as boosting its marketing efforts.
Last year, Atom Tickets partnered with National Amusements Showcase Cinemas, B&B Theatres, Flix Brewhouse and Southern Theatres, bringing its total reach to nearly 20,000 screens across the US.
The company reportedly said it has tripled its registered users and ticket sales in the past year, but has not disclosed official numbers.
“We’re pleased to participate in this latest round of financing for Atom Tickets, which has demonstrated enormous traction with exhibition partners, studios, and moviegoers during the past year,” Lionsgate vice chairman Michael Burns said in a statement provided by the startup.
Lionsgate led Atom’s Series A round. The new investment and the backing of Fidelity will help “take Atom to the next level as a groundbreaking force for change in the moviegoing experience.”
Atom Tickets allows users in North America to pre-order movie tickets and concessions, while the platform also provides moviegoers the option to watch trailers, read reviews and coordinate movie outings with friends while allowing each person to pay separately.
Through Atom’s social invite feature, users can purchase their ticket and also invite friends to go to the movie without paying for them. This process allows groups to easily reserve seats together – a crucial benefit for highly anticipated box office releases.
“We’re leading and delivering on what the industry needs,” said Matthew Bakal, co-founder and chairman of Atom Tickets. He said its studio investors’ “collective industry leadership has helped guide us through these major milestones.”
Image: Atom Tickets