Ticketfly Secures New Funding

Independent social ticketing company Ticketfly has its eye on expansion after scoring a $22 million Series C investment through a round of financing led by SAP Ventures.

The cash injection brings Ticketfly’s grand total to $37 million in capital raised since launching in 2008. The money will be used to drive technology innovation and market expansion for the company.

Other investors participating in the financing round included Northgate Capital, Cross Creek Capital and existing investor Mohr Davidow Ventures.

Ticketfly CEO Andrew Dreskin noted the company sought out investors that would bring “strategic value” to Ticketfly.

“These firms have significant expertise internationally, in the sports vertical and in the public markets,” he said. “Their knowledge and experience will be critical as we expand our product offering and diversify our client base. It’s a time of great disruption in the ticketing space, and we’re thrilled to have investors who share our vision – to transform the event ticketing industry.”

The funding news follows the launch of reserved seating functionality for the Ticketfly platform. The company previously provided ticketing for GA events and venues and the function will now allow reserved-seating venues to take advantage of Tickefly’s suite of social-heavy marketing tools.

Ticketfly’s venue and promoter clients include The Catalyst in Santa Cruz, Calif., 40-Watt Club in Georgia and 9:30 Club in Washington, D.C., and Outback Concerts, among others.