Features
DICE Ticketing Raises $65M In Funding, Hires CFO
DICE, by its own admission “the world’s largest independent music ticketing platform,” announced a $65m funding round led by MUSIC, an “investment company focused exclusively on music and music-adjacent businesses.”
The money will be used to expand DICE’s business, launching in new cities across the U.S. and world. Austin, TX, is up next, though the company wouldn’t reveal more details.
After several venue deals in New York, where DICE’s U.S. business is headquartered, one of its most recent U.S. deals was the exclusive partnership with Newport Jazz Festival and Newport Folk Festival.
Landmark deals in the UK, where DICE launched in 2013, include Alexandra Palace, and cutting-edge cultural center, the Institute of Contemporary Arts, alongside recent renewals with the iconic Troxy, amongst others.
As part of the latest $65 million investment round, MUSIC CEO Matt Pincus will join the ticketing company’s board of directors. Other investors include Structural Capital, and Ahdritz Holding LLC (the investment vehicle for Willard Ahdritz, founder and chairman of Kobalt Music).
More investments from Exor Ventures and Mirabaud Lifestyle Fund are to follow, according to a press release.
The funding will also support DICE’s ongoing product investments aimed at creating the best fan experience.
DICE CEO and founder Phil Hutcheon commented, “The live music industry is adopting DICE faster than ever and proves our thesis that if you treat fans well, they buy more tickets, and go out more often. We’re investing heavily in building even more technology and this year alone we released over 60 new features for fans, venues and artists. I’m excited that Matt (Pincus) has joined the Board and we’re more focused than ever on our mission to get fans out more.”
Hutcheon, sat down with Pollstar‘s sister publication, Venues Now, as a 2021 All-Star and talked about how the platform hopes to continue to expand.
Matt Pincus, entrepreneur, investor, and co-Founder/CEO of MUSIC, added, “DICE did the impossible: They made buying a ticket fun. And by doing that, they became much more than a transaction provider. DICE is the premier user-centric engagement platform for the most important consumers in music: people who love to go to shows.”
Willard Ahdritz, founder of Ahdritz Holdings LLC and founder and chairman of Kobalt Music, commented, “I met Phil in 2015 having heard about DICE. Rolling out AWAL at that time, I needed so many more venues for all my acts to play. DICE delivers a transformative experience for all stakeholders – from fans to venues to artists and looked like the future for live music. DICE has come a long way on their vision, and today it’s even clearer that the live industry needs changing. I am excited to have the opportunity to be part of the company as an investor.”
See: DICE Launches New Groups Feature For Friends To Purchase Tickets
Also announced today is the appointment of Ali Byrd as DICE’s chief financial officer. Byrd joins with more than a decade’s experience supporting fast-growth companies, most recently at Olive, a U.S. AI healthcare technology company. He previously held senior positions at Microsoft, CoverWallet and Limewire. Byrd will be based in New York.
Other recent strategic hires include the appointment of music industry veteran Caron Veazey to DICE’s board of directors, as well as former SVP of growth and marketing at HBO Max, Katie Soo, as chief business officer.
DICE, by its own admission, “now has millions of fans using the platform to discover and attend live events. This year, over 55,000 artists and 10,000-plus venues, festivals, and promoters will use DICE to sell their tickets across 30 cities.”