Spotlight Ticket Management Announces $6 Million Growth Financing
Calabasas, CA (PRWEB) June 19, 2014 -- Tickets mean business at Los Angeles based Spotlight Ticket Management (http://www.TicketManager.com) as the Company announced a $6 million round of growth financing led by Point Judith Capital and including Coyote Ridge Ventures and a bank facility from City National Bank. The equity round comes on the news of recent success partnering with 60+ professional sports teams along with globally known customers including Coca-Cola, American Express, Verizon, Wells Fargo, MasterCard, and HP.
Spotlight has built the leading cloud platform to manage, distribute, and market company ticket assets using mobile apps, CRM tools, platform integrations, and their flagship SaaS offering. The platform currently hosts over 9 million tickets annually at a value greater than a billion dollars while boasting more than 50 of the Fortune 500 as customers.
“Online ticket management has gone mainstream as evidenced by the record demand we’re seeing every quarter,” said Spotlight CEO and Co-Founder Tony Knopp, “This equity round further validates Spotlight Ticket Management as the leader in a fast-growing technology market. Spotlight is becoming the necessary standard for entertainment assets at companies big and small.”
The round is led by Boston based Point Judith Capital. “At Point Judith we focus on investing in dynamite teams chasing big and highly fragmented markets where Internet and mobile software can deliver massive value and revenue growth for customers,” said Sean Marsh, co-founder and General Partner of Point Judith Capital. “Tony and his team have a tremendous background from some of the pioneers in the corporate ticket market, including Stubhub, and it is evident in their customer traction and existing account growth that this solution delivers expansive value to this market.”
Co-founded by StubHub alums, Spotlight launched its flagship Saas application in early 2009 and has seen significant growth year-over-year since signing early partners in the San Antonio Spurs, Chicago Bears, and Houston Texans. Spotlight partners include the current Super Bowl Champion Seattle Seahawks, the NBA Champion San Antonio Spurs, and AEG, the owner of the Stanley Cup Champion Los Angeles Kings
Spotlight is the breakaway leader in a market where corporations spend over $30 billion per year on sports, concert, and amusement park tickets, flight vouchers, hospitality passes, gift cards, and company events. Enabling companies to get tickets into the right hands while measuring the effectiveness of their investment empowers Spotlight’s customers to understand and optimize the impact of their investment.
“Whether a company has 4 season tickets to a local team for key customers, two luxury suites for employees, or a million tickets per year to sell to VIPs, there is a Spotlight product specifically for them,” said Spotlight CRO and Co-Founder Joe Greiner.
“Tickets need to be easy,” said Knopp, “With these new equity partners we have the team, the vision, and the position in the market to change the way the enterprise and SMB interacts with live events. We’re making it more effective and a whole lot more fun.”
About Point Judith Capital: Point Judith Capital is a leading early stage venture capital firm based in Boston, Massachusetts. The firm focuses on investments in software and technology-enabled service companies. They have constructed the firm and their team around the strategy of building market leading companies with innovative founders and serial entrepreneurs. By taking an active approach to investing, the firm strives to build collaborative relationships with portfolio company management. The firm and its partners have backed market leading companies such as Nest (acquired by Google), Fidelis Security Systems (acquired by General Dynamics), and GetWellNetwork (acquired by Welsh, Carson, Anderson & Stowe).
About Spotlight Ticket Management: Spotlight Ticket Management is where tickets mean business. Spotlight makes company tickets simple by enabling companies to measure the business impact of sports and entertainment assets while staying compliant.
Described as “Necessary in Business” by CNBC, Spotlight Ticket Management offers a variety of online tools and mobile products to help companies of all sizes use the tickets they own, market tickets to their staff and customers, buy the tickets they need, and stay compliant with all federal, state, and local regulation without adding another layer of red-tape or confusing software.
Spotlight makes tickets available where the business user lives, whether on their mobile device, in their CRM, or through their team and venue partners. Spotlight partners with over 60 professional sports teams and venues as well as industry leading partners Salesforce.com and Concur to offer integrated products alongside education. The company is based in Calabasas, CA with offices in the Washington DC area.
Carrol Van Stone, Spotlight Ticket Management, http://www.spotlighttms.com, +1 (304) 671-0244, [email protected]
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