Festicket kicks off 2019 with $4.6m investment from creative specialists Edge05 February 2019 - Press release
- Festicket is a fast-growing festival ticket and travel booking platform
- Edge’s investment will help the company drive international expansion
- Festicket aims to be the one-stop destination site for booking festivals abroad, capitalising on the growth of the ‘experience economy’
Edge Investments (“Edge”), the leading creative industries specialist, has invested £3.5m into Festicket, the world's largest platform for music festival experiences, headquartered in London.
Edge’s investment follows a pivotal year for Festicket, which closed the year 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. Festicket is also planning to invest further in its community of passionate festival fans from around the world, with the aim of building an exclusive membership tier with added benefits in 2019.
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.”
Edge Investments Director David Fisher said:
“We are excited to partner with such a fast-growing company. The experience, events and festival markets continue to grow exponentially and Festicket is strategically positioned to benefit from these combined trends as a horizontally integrated platform. We are delighted to support them on their journey.”
Festicket CEO Zack Sabban commented:
“We welcome this new investment from Edge at a really important time for Festicket. Edge has a unique network and wide music industry knowledge, as well as an excellent understanding of our approach to content and community - a crucial ingredient in our growth recipe. The investment team are very passionate about our business and they believe in and understand our mission and business model. It feels like a perfect match.”