Dusseldorf-based software-as-a-service (SaaS) company and ticket platform Vivenu, which offers an application programming interface (API) for venues and promoters, has raised a further $50m (£37/€43.6m) in a Series B investment round.
The announcement comes less than 12 months after it raised $15m in a Series A round.
The new financing round was led by investment firm Activant Capital and other unnamed parties; existing investors Balderton Capital, Redline and Aurum Partners also participated in the round.
Vivenu’s API ticketing platform gives control over ticket buyer data, customisation and management capabilities to event organisers. The company’s ticketing solution enables sellers to optimise processes and connect their favourite tools, as well as building their own apps.
Maximillian Mayer, senior investment team and Berlin office lead at Activant Capital, said: “Covid-19 has put the events industry under immense pressure to innovate, but most ticketing software is built on legacy infrastructure and thus entirely inflexible.
“Vivenu has created the opposite – an API-first software that gives event organisers the independence and flexibility they need to successfully manage their event while owning the customer data and checkout flow. It was incredible to see how much event organisers – both large and small – love this product and we are very excited about the opportunity to support the Vivenu team on their future growth.”
Vivenu’s clients include German Bundesliga 2 team Schalke 04, which sells tickets exclusively through the Dusseldorf platform.
Simon Hennes, co-founder and chief executive of Vivenu, added: “From our conversations with organisers, we know that to succeed in the age of rapidly evolving consumer behaviour, more, not less, self-empowerment is essential.
“Vivenu is aimed at those who want to celebrate individuality, and to make full use of the ever-increasing amount of data their customers entrust them with. The new funds will help us to get our solution to more organisers, faster, and allow us to continue developing our best-in-class product.”