Creative industries specialist Edge has invested $4.6 million (£3.5m) in festival travel booking site Festicket.
London-headquartered Festicket partners with festivals to provide travel packages combining tickets, accommodation and transfers. The company has four other offices in San Francisco, Amsterdam, Berlin and Porto.
Festicket CEO Zack Sabban said: “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.”
Edge’s investment will support Festicket’s entrance into new markets, primarily North America and Asia, alongside development of the underlying technology platform. Festicket is also planning an exclusive membership tier with added benefits in 2019.
“The new round of funding will support more product and technology work to continue to improve our user experience and discovery tools," added Festicket CPO Jonathan Younes. "We are delighted to welcome the Edge Investments team and build, with their support, the best platform for festival fans around the world.”
Festicket closed last year with a series D funding round led by transatlantic venture capital firm Beringea.
Edge Investments founder and CEO David Glick said: “What attracted me to Festicket was its talented and committed management team. Zack and Jonathanhave 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.”
