TickPick has raised $250 million from Brighton Park Capital and the golfer Rory McIlroy's investment partnership Symphony Ventures, it was announced on Thursday (August 22).
TickPick was founded in 2011 by co-CEOs Brett Goldberg and Chris O'Brien as an independent ticket market. Since its launch, TickPick has been downloaded 14 million times and generated more than $1 billion in sales, according to a press release.
“We are excited to announce our latest growth investment, which will help accelerate our ability to transform the ticketing industry,” O'Brien said in a statement. “We founded TickPick with the unwavering commitment to deliver a transparent and hassle-free ticketing experience to consumers. This investment will allow us to deepen that commitment by accelerating the pace of product innovation, increasing our brand awareness and reaching more customers than ever before.”
Goldberg added, “We have built a relationship with Brighton Park over many years and the company is our clear partner of choice given its strong track record of working with founder-led companies and marketplace platforms, which we believe will help us continue to scale business and make a lasting impact.”
Kevin Maganpartner at Brighton Park Capital, added, “TickPick has shown tremendous growth by offering a strong value proposition that enhances the customer experience and removes one of the biggest pain points for consumers with the no-fee model. TickPick's recent growth and partnerships with some of the biggest sports leagues and teams in the world is a testament to their appeal to a broad customer base, and we're excited to work with Brett, Chris and the incredibly talented team at TickPick as they continue to disrupt the ticketing industry.”
As part of the transaction, private equity firm GreyLion will exit its position in TickPick after investing in the company in 2019.
Wells Fargo served as financial advisor and Kirkland Ellis served as legal advisor to TickPick and GreyLion. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Brighton Park.
