The technology company has attracted a new round of investment, including $3.2m in funding, led by Flyover Capital, with return investor Anthemis. New investors The Raptor Group and Scrum Ventures also joined the round bringing the total raised to $13m.
The live entertainment solution platform has seen seven new major sports teams sign on with the service since January, including the NFL teams the Tennessee Titans and Washington Commanders, and USL teams New Mexico United, Charleston Battery, Richmond Kickers and Lexington FC bringing its total client base to nearly 50 teams.
“These partnerships and additional investment are a testament to Project Admission’s novel solution – a technology platform for a multitude of stakeholders that is transforming the entire life cycle of ticking including how and where a ticket is purchased, how its distributed, and how this can ultimately benefit/uplift a fan’s entire experience,” said Stephen Glicken, Project Admission’s chief executive.
“The first quarter of 2023 was the seventh consecutive quarter of 20%-plus ticket revenue growth for us, with ticket revenue increasing by more than 440% annually. With the new investment, we will expand into new markets and verticals to further accelerate our growth.”
MLB gave several of its teams permission to work with Project Admission last year, while SeatGeek integrated its tools in 2021.
During 2022, Project Admission acquired web-based platform SplitSeason Tickets, which offers professional sports teams and their season ticket-holders a way to find new ticket partners, as well as the ability to share and distribute their tickets easily.
“Project Admission is becoming the go-to platform for teams, venues, and artists looking to expand how and where they engage with fans,” said Tristan Mace, managing partner at Flyover Capital. “We’re excited to lead this additional investment syndicate for Project Admission as the company continues to reshape the ticketing industry.”