Online ticketing and event management software company TicketBiscuit has secured a $5m (€4.6m) investment from venture capital and growth equity firm Ballast Point Ventures (BPV).
Founded in 2001 and based in the US city of Birmingham, Alabama, TicketBiscuit processes more than $100m in ticket sales each year for clients, such as music venues, festivals and event centres.
In a statement, TicketBiscuit said it plans to use the funding to “grow its sales force, bolster marketing efforts and develop additional technology products”.
Jeff Gale (pictured), founder and chief executive of TicketBiscuit, said: “This investment opens up serious growth opportunities for us. “Our team has worked relentlessly to build and support cutting edge technology and provide the best ticketing experiences on the planet. With this funding, we will be able to double down on our investments in talented people and bold strategies."
Robert Faber of Florida-based BPV, who will join the TicketBiscuit board of directors as part of the investment deal, added: “Under Jeff Gale’s leadership, the TicketBiscuit team has had great success to date, and this investment dovetails well with our strategy of partnering with talented entrepreneurs who are building high-growth companies across the Southeast and Texas.
“TicketBiscuit represents our second investment in Birmingham in 2016, and we are excited to continue building our network in this market where a vibrant ecosystem of technology and health care companies has developed.”
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