ShowClix, the North American full-service event technology company, has received a strategic investment from Providence Strategic Growth (PSG).
PSG is the growth equity affiliate of Providence Equity, a global private equity firm with more than $50bn (£37bn/€42bn) in assets under management.
Since its launch in 2007, Pittsburgh-based ShowClix has helped to process over a billion dollars in ticket sales across 37 countries. The company has introduced the first iOS ticket scanner, a first-of-its-kind handheld RFID admissions solution and the industry’s first automated digital assistant, Agent.
Most recently, ShowClix has also launched several analytical tools to support event organisers to manage participant engagement and grow business.
As part of the investment PSG deal, ShowClix chief executive Tom Costa will be retiring, and Brian Arnone, will be promoted to the of president and chief operating officer. Costa will continue to assist the ShowClix team as a senior advisor.
“We’ve dedicated ourselves to going beyond simple event ticketing and ensuring the success of our clients, and it is energising to find a partner like PSG who share our commitment to the growth of the event technology industry,” said Arnone.
“We’re looking forward to leveraging PSG’s knowledge, resources and deep expertise in the segment in order to further enhance our customer commitment, accelerate our growth and continue our strong track record of innovation.”
Gopi Vaddi, managing director at PSG said: “ShowClix offers a compelling technology platform that helps its customers manage their event experience, and has a category leadership position in the rapidly expanding event industry.
“They are well-positioned to continue their product innovation momentum and expansion into new markets. We look forward to partnering with Brian and the rest of the ShowClix team as they enter their next phase of growth.”
Costa said: “Brian is a proven and capable leader, and I am pleased to leave the company in such good hands.
“Further, having spent time with Gopi and the PSG team during this transaction, I have no doubt that they are the right partners for ShowClix. Their knowledge of our space and the opportunity in front of ShowClix coupled with their investment approach made the transaction a simple and enjoyable process. I look forward to them bringing the same skills to bear for ShowClix and look forward to its success.”