Vivenu, a ticketing platform that offers an API for venues and promoters to customise to their needs, has secured €12.6m ($15m/£11.4m) in a Series A funding round.
The new investment led by Balderton Capital will help Vivenu to “scale innovation, foster product development, expand into new markets and accelerate growth to meet customer demand”.
The Dusseldorf-headquartered company provides ticket managers and venue owners with full real-time dynamic control over all aspects of selling tickets including configuring prices and seating plans, leveraging customer data and insights and mastering a branded look and feel across their sales channels.
It has exposed APIs enabling many different custom use cases for large international ticket sellers. Since its seed funding in March, the company says it has sold more than two million tickets for sellers such as leading sports clubs, venues, amusement parks, fairs and festivals.
Simon Hennes, chief executive and co-founder of Vivenu, said: “We created Vivenu to address the need of ticket sellers for a user-centric ticketing platform. Event organisers were stuck with solutions that heavily depend on manual processes, causing high costs, dependencies, and frustration on various levels.
“We refuse to accept the status quo and are building a unified platform to free ticket sellers from tedious workflows and to become the full owner of their ticketing experience and data. Especially over the past year, the transformation of the industry was accelerated with sellers striving for better ways to sell tickets.”
The funding round saw previous investor Redalpine doubling down and Vivenu is also the first European investment of Aurum Fund LLC, the fund associated with NFL American football team the San Francisco 49ers.
In March 2020, the company secured €1.4m in seed funding, bringing its total funding to €14m. Previous investors include early-stage venture capital investor Redalpine, GE32 Capital and Hansel LLC (associated with the founders of Loft).
Daniel Waterhouse, partner at Balderton, added: “Vivenu has built a sophisticated product and set of APIs that gives event organisers full control of their ticketing operations, bringing control of administration, promotions, branding and ticket types into the hands of the organiser and away from legacy incumbents whose rigid offerings are no longer fit for purpose.
“[They] have achieved strong early success and have been nimble and quick to react in the face of a challenging year, offering technology to help event organisers to remain compliant with local regulations. With limited time and resources, they have built a category-leading product and we couldn’t be more excited to join them on their journey towards global market leadership.”