Do you love live music, but find that going to festivals is often a logistical nightmare? The London-based startup Festicket is solving this problem, by making it easy for music festival enthusiasts to find festivals across Europe, as well as book tickets, accommodation, and transportation all on one platform.
Founded in 2012, Festicket allows music fans to discover and book tickets and travel packages for over 1200 music festivals worldwide, and has a network of over 4000 accommodation and travel suppliers to create end-to-end experiences for its users. So far, the company has served more than 2 million travellers from over 120 countries.
The startup has just raised €9.3 million in Series D funding in a round led by venture capital firm Beringea with participation from InMotion Ventures, Channel 4’s Commercial Growth Fund, Lepe Partners, U-Start, and ex Spinnin’ Records CEO Eelko Van Kooten.
With the new funding, Festicket aims to become the number one global live events platform by focusing on expansion into North American and Asian markets, and expanding its supply base by offering a broader range of events. The startup currently has offices in London, Amsterdam, Berlin, Porto and San Francisco.
In the UK alone, the music tourism industry has grown from €2.5 billion in 2012 to over €4.5 billion in 2017, according to the UK’s Music Tourism report. Alongside its all-in-one booking solution, Festicket’s Guide and Magazine services form the largest online festival publication in the world. In partnership with Spotify, the startup has also launched a Festival Finder, which helps music lovers find festivals based on their listening habits.
Zack Sabban, CEO and co-founder at Festicket 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.”
Jonathan Younes, CPO and co-founder at Festicket 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.”
Eyal Malinger, Investment Director at Beringea, said: “Beringea’s investment in Festicket is underpinned by a fundamental shift in global consumer habits. Unprecedented demand – particularly among millennial consumers – for experiences over material possessions has fuelled the meteoric rise of ‘festival tourism’. Festicket sits at the epicentre of this trend and, as Europe’s largest vendor of festival travel and tickets, it has enabled millions of people to uncover new music, culture, and experiences.”