Ticket marketplace TickPick has been operating under venture radar since 2011. The college-roommate founded company has grown organically into a service that allows users to purchase tickets in a P2P marketplace. PWP Growth Equity just became the first institutional investor with an investment of $40 million.
TickPick competes with the likes of StubHub, which has recently been proposed to be divested from parent company eBay. The benefit for users is the no-hidden-fee guarantee, an issue that has plagued the ticket reselling industry for ages.
“Since its founding, TickPick has been disrupting the secondary event ticketing industry with its unique value proposition and established an incredibly loyal, passionate customer base. “John McKee, Managing Director PWP Growth Equity
Co-founder Brett Goldberg stated:
“PWP Growth Equity has an established track record of leveraging their experience in digital marketplace, e-commerce and consumer companies to spur growth at companies like TickPick. We expect to benefit tremendously from this experience. PWP Growth Equity is the ideal partner for TickPick as we continue to scale.”
The plan for the investment includes hiring a CFO and a Chief Marketing Officer, as well as improving the company’s use of AI and machine learning to enhance the user experience. It prides itself on having top shelf customer service, however this investment will help cement that reputation.