TodayTix Announces $73 Million Growth Equity Investment
TodayTix has announced a $73 million growth equity investment led by leading growth oriented private equity firm Great Hill Partners. The investment brings total capital raised since its last public financing round to $90 million.
Founded in 2013, TodayTix created a central place for audiences to discover and explore the shows and experiences in their city, and easily purchase the best-priced tickets. The company's expanding media services, global reach and mobile-first platform brought a new digital-savvy audience of 5 million global customers to the $17.5 billion theater industry in the U.S. TodayTix has sold more than 4 million tickets to date, accounting for eight percent of all Broadway tickets sold annually and four percent in London's West End.
With Great Hill Partners' investment, which was facilitated with guidance from Methuselah Advisors, TodayTix will be able to enter its next stage of growth. This involves internal modifications, including closing out secondary purchases of original investors, but will focus more on outward-facing growth and utilizing the company's proprietary data-driven audience feedback to offer new shows, arts and cultural experiences and double down on expanding its technologies in discovery and personalization for both consumers and partners.
"TodayTix is rapidly changing the way millennials and other consumers connect with live cultural experiences," said Michael Kumin, a Managing Partner, Great Hill Partners. "We look forward to working with Brian, Merritt and their talented management team to expand the Company's product and service offerings and accelerate its push into new geographies."
TodayTix is the premier digital gateway to shows, arts and cultural experiences. Through its mobile-first, design-focused ticketing platform, TodayTix is the place for audiences to discover, explore and engage with the best entertainment their city has to offer.
TodayTix works with more than 1,300 partners to provide the best-priced tickets available in 15 markets around the world, including New York City, London's West End, Toronto, the San Francisco Bay Area, Los Angeles, Seattle, Washington DC, Chicago, and Australia. Through innovative digital Lottery and mobile Rush ticketing programs, TodayTix has generated more than 11.6M digital lottery entries and 2.3M social shares through 900 activations to date, engaging the spontaneous nature of a younger audience and introducing a new generation of audiences to the venues.