Live event ticket platform TicketRev today announced the launch of its new mobile app following a successful pre-seed funding round that raised $1.1M.
TicketRev’s mission is to help fans find better deals on live event tickets. Through the platform, fans are able to name their price and preferred seating location, enabling ticket sellers and teams to accept these requests and liquidate unsold inventory. Unlike traditional ticketing platforms, TicketRev takes a buyer-first approach to create a transparent marketplace that is more efficient for buyers and sellers alike.
Following the close of its $1.1M pre-seed funding round from 500 Startups, Soma Capital, Groove Capital, Techstars, the Minnesota Twins, and various angel investors, TicketRev is now launching its mobile app. TicketRev’s new app is aimed at improving the process of ticket buying. It allows users to place offers for tickets across multiple events at once to increase their chances at scoring a deal. Customers can search for the events they want to attend and then decide what they are willing to pay. TicketRev then provides a suggested range so users always know if their offer is fair.
The new funding will also allow TicketRev to continue to further develop its platform to reach more people with its buyer-focused model. The team will focus on making new hires across engineering and marketing teams to support them as they reach more fans across the United States.
“Our new funding will help us to continue empowering more people to save money when they buy tickets. We recognize that coming out of a pandemic, live events bring people together and we want to help make tickets more accessible,” commented TicketRev Co-Founder and CEO Jason Shatsky.
“In 2022, there were 350% more concerts compared to 2019. People love going to events but hate the process of buying tickets. We want to make that easier, fairer, and more affordable,” said Shatsky.
“The power of TicketRev lies in its ability to align incentives between all the involved stakeholders — buyers, sellers, teams, and venues — to create a win-win situation for everyone. The vision of TicketRev is clear: to become the go-to platform for live event tickets. This new funding will allow the TicketRev team to expand nationally by onboarding new brokers, teams, and venues that are tired of empty seats, unsold inventory, and poor customer experience,” commented Fouad Farhat, Investor at Soma Capital.
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