LiveStyled, the white-label venue app developer, says it will use £1.2m ($1.6m/€1.4) raised in a series-A funding round to support its expansion plans.
The investment round, which generated 20 per cent more than the initial £1m target, was led by merchant bank Nash and Co Capital.
LiveStyled, which has now raised £2m of funding, has developed apps for Live Nation’s O2 Academy brand and five of AEG’s European arenas.
The London-based company said the money will enable it “to aggressively accelerate its rapid expansion across Europe and increase its focus on global markets in the US, Asia and Australasia”.
LiveStyled did not disclose the identities of the other investors, but said they “range from those with interests in the live entertainment and theatre space to those who have seen great returns from fast-growing tech start-ups”.
“It is an incredibly exciting time,” said Adam Goodyer, the company’s founder and chief executive. “Our team have been working tirelessly with venue industry leaders and we are proud to be delivering a best-in-class platform that meets the needs of customer-focused venues.
“We are grateful to Nash & Co for their advice and support, and of course to our investors for helping us get to where we are today.
“The product has now proven its ability to use data science to analyse consumer behaviour in order to target consumers in the right place at the right time with the right message. This, in turn, enhances the experience and delivers incremental commercial returns.
“Investment raised in this series-A round will expedite our expansion plans over the coming months. It’s a new chapter in the story of LiveStyled and we look forward to bringing on many new clients in these markets.”