Innovation Warehouse alumni Festicket, the world’s largest portal for music festival experiences, has secured $10.5 million in Series D funding – fuelled by unprecedented millennial demand for experiences over material possessions.
The round was led by transatlantic venture capital firm Beringea and joined by Jaguar Land Rover’s venture capital fund InMotion Ventures, Channel 4’s Commercial Growth Fund, Lepe Partners, U-Start and ex Spinnin’ Records CEO Eelko Van Kooten.
Beringea investment director Eyal Malinger will join the Festicket board, along with Treatwell’s chief operating officer, Ben Leaver. The company will be appointing an independent non-executive chairman in the near future.
Festicket empowers music fans with a seamless service to discover and book tickets and travel packages for over 1,200 music festivals worldwide. The two-sided marketplace uses a network of over 4,000 accommodation and travel suppliers to create end-to-end experiences.
To date, the company has served over 2 million travellers from 120+ countries and has a community of over 2.5 million registered, highly-engaged, global travellers, adventurers and live music lovers.
Festicket was established by Frenchmen Jonathan Younes and Zacharie Sabban in 2012 at Innovation Warehouse, which played a critical role in the startup’s success through support and mentoring. The idea for the company was born when Sabban (a keen traveller) became frustrated by how difficult and time consuming it was to research, book and organise trips to festivals.
Sabban commented: “With this new investment we will be able to accelerate the expansion of our unique business model internationally and to more verticals. Our success so far has been driven by our focus on content, community and commerce, so we will use the same ingredients to become the go-to global brand for live event experiences.”
Younes added: “Our product will continue to develop and innovate alongside the business. We’ll be launching exciting new features for our community that make discovering and booking live events easier and more intuitive than ever before.”
Prior to this round, Festicket had raised $13.7 million from investors including Lepe Partners, PROfounders, U-start, Playfair, Wellington and Windcrest. Festicket also has ex-Booking.com CMO/co-founder Arthur Kosten as an investor and advisor and Jean-Charles Carré, manager of world-famous DJ David Guetta as an investor.
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