Industry News

Glownet banks £2m funding for US expansion

UK event organiser Glownet has appointed Siebe Gerbranda as its new chief executive and secured £2m in new funding as it looks to expand into the US.

The cash injection comes from venture capital firm Downing Ventures, with Gerbranda replacing Scott Witters as CEO, as the founder becomes executive director.

Glownet uses RFID to deliver ticketing and access control, cashless payments, crew management, social media activations, loyalty programmes and customer insight solutions to music festivals, food and beverages festivals, nightclubs, trade shows and sporting events.

Glownet first introduced its system over five years ago and since then has powered 500 events in 38 countries with 2.3 million users.

James Lewis, investment director at Downing Ventures, said: “Scott, Siebe and the team have achieved great things so far in a market that continues to develop and change. We look forward to being a part of Glownet’s expansion both technologically and globally and are delighted to be working with them.”

The funding will help Glownet build on its core offering by enhancing its POS capabilities and integrating new payment types.

In addition, Glownet is looking to brings its services to the US, where event payment technology adoption is developing at a fast rate.

A cashless platform offers huge potential for user loyalty as it allows brands and promoters to create personal engagement with the user, Glownet added. Users can be offered exclusive VIP access, special discounts, and loyalty rewards at the event.

In addition, ticketing data collected at the event offers organisers and brands a wealth of opportunities. It allows for measuring on-site effectiveness, cross-event promotions and audience profiling.

Gerbranda said: “From the moment I joined Glownet last year, it was immediately clear that it has all the right ingredients for fast growth. An amazing team, very solid technology and a unique position in a growth industry.

“My task is both clear and challenging; enabling our team to drive aggressive expansion, in terms of both product and territory coverage.”

Image: Glownet