Gametime scores $20 million in round B from GV, Accel
A Last-minute marketplace for live entertainment
Gametime, is an app for consumers looking to buy tickets at the last minute at any nearby concert or sport,or even after the start of the event. It offers an ultra-fast two-tap purchase process and delivers tickets directly to smartphones. They recently announced $20 million in Series B financing to expand its reach as the fastest route for millennial fans to discover and access more events. The total capital Raised is $33 million by Gametime hitherto.
An exponential growth has been recorded since its Series A round in May 2015. The company increased app installs by 500% and the staff is now doubled with almost 70 full-time employees including two key senior leaders. This round got successful as new investors GV , Evolution Media Partners and the Stanford StartX joins the round with the returning investors including Accel,JeffMallett and Casey Wasserman.
Gametime is significantly grabing the market size by providing consumers a fast, convenient way to purchase tickets to sports and music events. It delivers access to more than 1,400 sports and teams including major professional leagues, sports and live music across US & Canada. Analyzing the purchasing behaviors Gametime reveled that eighty percent transactions occur within seven days of an event and half of those occur on the day of the event. And roughly Ten percent of event day transactions happen after the start time.
To engage people with the app,Gametime began selling tickets to concerts and released Snap & Sell in April, allowing fans to sell tickets quickly via their mobile phone’s camera. The company also launched the Connect feature to maximize the chance that friends get together for events and increase showing up at stadiums. A pilot partnership with Venmo launched in January allows users to pay with this popular option.
Millennials specifically love that they can buy in two taps, especially when they’re mobilizing friends just minutes before start time. This funding will help them continue on growing the last-minute into the next big category for the consumers. Gametime believes the world gets better when people have fun together.
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