Photo Credit: TickPick
Ticketing upstart TickPick announces a $250 million investment from firm Brighton Park, with a strategic partnership with Rory McIlroy.
Investment firm Brighton Park Capital has announced a $250 million investment in ticketing upstart TickPick, a “modern transparent” ticket marketplace set on transforming the ticketing industry. The investment marks the largest fundraise in the ticketing industry to date.
TickPick and Brighton Park also announced that Rory McIlroy’s investment partnership, Symphony Ventures, has joined as a strategic investor. The partnership aims to help TickPick expand its platform to reach new audiences, underscoring robust confidence in the platform’s market position and growth potential. Symphony’s support will enable TickPick to further enhance its offerings, positioning the company to capitalize on expansion opportunities in the sector.
Since its founding in 2011, TickPick has been revolutionizing the ticketing marketplace industry with all-in, no-fee pricing models, ensuring that fans always know exactly what they are paying for without being blindsided by hidden costs. The app has experienced remarkable growth, with 14 million downloads resulting in sales increasing 8x over the past three years to nearly $1 billion in ticket sales today, while saving customers over $180 million in service fees alone.
“We’re thrilled to announce our latest growth investment, which will help accelerate our ability to transform the ticketing industry,” said Chris O’Brien, TickPick co-founder and co-CEO. “We founded TickPick with the unwavering commitment to deliver a transparent and hassle-free ticket-buying experience for consumers. This investment will allow us to deepen this commitment by accelerating the pace of product innovation, raise our brand awareness, and reach more customers than ever before.”
“We have built a relationship with Brighton Park over many years and the firm is our clear partner of choice given its strong track record of partnering with founder-led companies and marketplace platforms, which we believe will help us continue to scale the business and drive a lasting impact,” added Brett Goldberg, TickPick co-founder and co-CEO.
“TickPick has demonstrated tremendous growth by offering a strong value proposition that both enhances the customer experience and removes one of the biggest pain points for consumers with its no-fee model,” said Kevin Magan, Partner at Brighton Park Capital. “TickPick’s recent growth and partnerships with some of the largest sports leagues and teams in the world is a testament to their appeal among a broad customer base, and we’re excited to partner with Brett, Chris, and the incredibly talented TickPick team as they continue to disrupt the ticketing industry.”
As part of the transaction, GreyLion, a private equity firm, will exit its position in TickPick following its 2019 investment. Wells Fargo served as financial advisor, and Kirkland & Ellis LLP served as legal counsel to TickPick and GreyLion. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Brighton Park.
