Edge Investments has invested £3.5m into Festicket, the platform for music festival experiences headquartered in London.
Edge’s investment follows a pivotal year for Festicket, which closed 2018 with an earlier series D funding round led by transatlantic venture capital firm Beringea.
Festicket partners with festivals to provide standard and VIP packages that combine accommodation, transfers and admission for festivals worldwide – creating a complete and hassle-free one-stop shop for festival-goers. It has four additional offices in the EU and US.
Founded by Zack Sabban (CEO) and Jonathan Younes (CPO), the management team has since been bolstered by a series of senior executives hired from companies such as Live Nation, Eventbrite, and Channel 4.
Growth in the c.£3bn EU festival market continues, and Festicket’s ambitions are global -working with more than 2.5 million customers, over 1,200 festivals and 4,500 suppliers across 50 countries worldwide.
Edge’s investment will support Festicket’s entrance into new markets, primarily the US and Asia, development of the underlying technology platform, and support product expansion.
Investment director David Fisher led the investment from Edge, alongside investment manager Josh Burge.
Edge Investments founder and CEO David Glick said: “What attracted me to Festicket was its talented and committed management team. Zack (Sabban) and Jonathan (Younes) have an almost telepathic bond, and in common with the best entrepreneurs, they know why they are building Festicket into a huge business, solving an everyday millennial pain-point by streamlining, personalising and curating thousands of live experiences for millions of customers.”