Online ticketing hub WebTicketManager has received a £550,000 funding boost from private investor network Growthdeck.
The business provides tickets for Premier League football club Chelsea as well as rugby’s Twickenham Stadium and Liverpool’s Cavern Club.
Steve Talbot, investment director at Growthdeck said, according to FT Advisor, making an investment in WebTicketManager is attractive because of the business’ organic growth since being founded in 2012.
The online ticketing firm said it plans to use the investment to expand its sales and marketing operation and grow its customer base.
Talbot said customer acquisition to date has been achieved on a “very limited” budget with the ticketing business achieving revenues of £400,000 in 2017, which was sufficient to break even.
WebTicketManages is expecting that revenues will increase by 11 times that by 2021.
Talbot said: “No platform has yet managed to combine a proven tech offering, a multi-channel sales approach and a realistic pricing structure for local attractions. WebTicketManager is the only player in the market to offer that.
“Given the solid track record of the business, the expertise and experience of the management team, and the growth opportunities the business is poised to benefit from, this investment makes a lot of sense for Growthdeck investors.”